Joint Venture8 Oct 2026, 02:17 pm
MRPL Incorporates Petrochemical Marketing JV with ONGC, OPaL
AI Summary
Mangalore Refinery and Petrochemicals Ltd (MRPL) has announced the incorporation of ONGC Petrochemicals Marketing Limited (OPML) as a joint venture. OPML, a public limited company, will focus on integrated marketing and trading of petrochemicals and chemicals. MRPL holds a 25% stake in the JV, with ONGC holding 50% and OPaL holding 25%. The incorporation aims to create a unified, market-facing platform for the ONGC Group's petrochemical products. MRPL's investment is ₹12.5 crore for 1,25,00,000 equity shares at face value, reflecting an arm's-length transaction. Department of Investment and Public Asset Management approval was secured.
Key Highlights
- MRPL incorporates ONGC Petrochemicals Marketing Limited (OPML) as a 25% stakeholder.
- OPML will focus on integrated marketing and trading of petrochemicals.
- The JV aims to create a single market-facing platform for the ONGC Group.
- MRPL invested ₹12.5 crore in the new entity.
- Transaction is on an arm's-length basis with regulatory approvals obtained.
Price Impact
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