Mumbai, Feb 24, 2025: The Board of Directors of Oil and Natural Gas Corporation Ltd. (ONGC) has approved an investment of ₹1,200 crore in its wholly owned subsidiary, ONGC Green Limited (OGL). The funds will be infused through the subscription of a Rights Offer of equity shares issued by OGL.
It has also been decided that OGL will proceed with the acquisition of a 100% equity stake in PTC Energy Limited. The investment for this acquisition will be made using the proceeds from the Rights Equity Share capital. This move is expected to strengthen ONGC’s presence in the renewable energy sector.
Additionally, the replacement of a corporate guarantee amounting to ₹75 crore on behalf of OGL, in respect of PTC Energy Limited, has been approved by the board.
The meeting of the Board of Directors commenced at 18:12 hrs and concluded at 19:31 hrs.
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