Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corporation’s (ONGC) board of directors has approved the offer and issuance of up to 11,400 unsecured, listed, redeemable, non-cumulative, taxable, NCDs of face value of Rs 10,00,000 at par aggregating to a total issue size of up to Rs 1,140 crore on a private placement basis to identified investors at the interest rate of 4.64% p.a. payable annually.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.