Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corporation (ONGC) has approved the offer and issuance of up to 15,000 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 1,500 crore on a private placement basis to identified investors at the interest rate of 4.50% p.a. payable annually. The NCDs will be listed on the BSE (wholesale debt market segment).

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.