ONGC’s equity infusion in OPaL gets nod

Quick Summary:

ONGC announced an additional equity infusion of Rs 18,365 crore in its subsidiary OPaL, increasing its stake to over 95%.

This move, approved by the government, is part of a capital restructuring plan aimed at achieving financial and operational sustainability.

ONGC will also provide domestic gas to OPaL from re-developed fields at a premium price to ensure steady performance.

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Article Details

Author / Journalist: TNN

Category: EconomyBusiness

Markets: IndiaBangladesh

Topics: Petrochemical Investment Equity infusion Redevelopment Dahej ONGC Gujarat Business news Downstream

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-10 @ 08:06:55 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 516 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 22002790

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