ONGC Petro additions Limited (OPaL), a subsidiary of Oil and Natural Gas Corporation Limited, has received board approval to raise funds through the Private Placement of Non-Convertible Debentures (NCDs). The aggregate amount is not to exceed ₹4,471 crore. This approval, granted on June 11, 2026, is subject to shareholder and other regulatory approvals. The funds will support the company’s strategic initiatives.
Fundraising Approval Granted
ONGC Petro additions Limited (OPaL), a key subsidiary of Oil and Natural Gas Corporation Limited, has secured essential approval from its Board of Directors for a significant fundraising initiative. In its 134th board meeting, held on June 11, 2026, the directors inter-alia approved a proposal to raise funds through the Private Placement of secured/unsecured, redeemable, Non-Convertible Debentures (NCDs).
Key Financial Details
The NCDs will be issued in one or more tranches, with the total aggregate amount not exceeding ₹4,471 crore. This strategic financial move was recommended by the Audit Committee and is contingent upon receiving necessary approval from the Shareholders, along with all other applicable statutory and regulatory clearances. This infusion of capital is expected to bolster OPaL’s financial standing and support its ongoing and future projects.
Disclosure and Next Steps
Further details regarding this disclosure can be accessed via the following web link: OPaL Disclosure Link. The company has formally informed its parent entity, Oil and Natural Gas Corporation Limited, about this significant development.
Source: BSE
