ONGC Acquires Additional 2.88% Stake in Subsidiary OPaL for ₹ 5,594.79 Crore

Oil and Natural Gas Corporation Ltd (ONGC) has acquired an additional 2.88% stake in its subsidiary, ONGC Petro additions Limited (OPaL), for a consideration of ₹ 5,594.79 Crore. This investment aligns with ONGC's objective of vertical integration into downstream petrochemicals. OPaL is a subsidiary of ONGC with an equity shareholding of 91.16% and a design capacity of 1.1 MMTPA in terms of Poly-Ethylene (PE) capacity ratings. The company has a plant located in Dahej SEZ, District-Bharuch, Gujarat, India, and its products are supplied across geographies. The investment was made in line with the approval of the Government of India and the Board of Directors.