Board Meeting12 Jun 2026, 04:29 pm
ONGC Subsidiary OPaL Seeks ₹4,471 Cr Fund Raise
AI Summary
Oil and Natural Gas Corporation Ltd (ONGC) announced that its subsidiary, ONGC Petro additions Limited (OPaL), has received board approval to raise up to ₹4,471 crore through the private placement of Non-Convertible Debentures (NCDs). This fundraising initiative, approved at OPaL's 134th Board meeting on June 11, 2026, is subject to shareholder and regulatory approvals. The funds will be raised in one or more tranches, with the debentures being secured/unsecured and redeemable. This move by the debt-listed subsidiary aims to bolster its financial resources.
Key Highlights
- OPaL, an ONGC subsidiary, plans to raise ₹4,471 crore.
- Funds will be raised via private placement of Non-Convertible Debentures.
- Board approval received; shareholder and regulatory approvals pending.
- Debentures will be secured/unsecured and redeemable.
- This is a debt-raising activity for the subsidiary.
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