Joint Venture6 Mar 2026, 07:13 pm
Oil and Natural Gas Corporation Ltd Acquires 50% Stake in Two Joint Venture Companies
AI Summary
Oil and Natural Gas Corporation Ltd has become a 50% Joint Venture Partner with M/s Mitsui O.S.K. Lines Ltd., Japan in two joint venture entities, namely Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited. The Company has been issued shares on rights basis: 70,30,676 equity shares of 100/- each issued by Bharat Ethane One IFSC Private Limited and 70,30,676 equity shares of 100/- each issued by Bharat Ethane Two IFSC Private Limited. Upon allotment of these shares, the Company’s shareholding will remain at 50% in both the joint venture entities.
Key Highlights
- Oil and Natural Gas Corporation Ltd has become a 50% Joint Venture Partner with M/s Mitsui O.S.K. Lines Ltd., Japan in two joint venture entities
- The Company has been issued shares on rights basis: 70,30,676 equity shares of 100/- each issued by Bharat Ethane One IFSC Private Limited and 70,30,676 equity shares of 100/- each issued by Bharat Ethane Two IFSC Private Limited
- Upon allotment of these shares, the Company’s shareholding will remain at 50% in both the joint venture entities