ONGC mulls IPO of upto 25% of equity shares in ONGC Petro-additions Ltd (OPaL)

Oil and Natural Gas Corp (ONGC) is looking at an initial public offering (IPO) of ONGC Petro-additions Ltd (OPaL) - a the special purpose vehicle formed for setting a Rs 13600 cr petrochemical plant at Dahej. The IPO is being considered around the time of project completion in 2012, wherein ONGC is considering offering upto 25% of the equity shares in 19% equity stake in OPaL is being planned to be given to state-run gas utility GAIL India, while another 25% interest may be offered to Petronet LNG and Bharat Petroleum or a strategic partner. ONGC holds 26% stake in OPaL, while Gujarat State Petroleum Corp (GSPC) holds 5% stake. OPaL will use C2-C3 (ethane and propane) compounds extracted from imported liquefied natural gas (LNG) to make polymers at the proposed plant.
  More News  Post Your Comment
{{comment.Name}} made a post.




There are no comments to display. Be the first one to comment!


Name Required.


Email Id Required.

Email Id Not Valid.


Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.

Message Required.

Click to Change image  Refresh Captcha