Mangalore Refinery and Petrochemicals Limited (MRPL) has filed a disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 regarding the incorporation of ONGC Petrochemicals Marketing Limited (OPML). This filing is in continuation of the company's previous filing dated 27/04/2026 regarding the formation of a Joint Venture Company (JVC).
OPML was incorporated on 7th October 2026 as a Public Limited Company with an authorized and subscribed share capital of ₹50 crore divided into 5 crore equity shares of ₹10 each. The company will undertake the business of integrated marketing and trading of petrochemicals, chemicals and kindred products.
The joint venture has shareholding in the ratio of 50:25:25 by ONGC, MRPL and OPaL respectively. MRPL together with its nominee shareholders has subscribed to 1,25,00,000 equity shares of ₹10 each, representing 25% of the paid-up equity share capital, at a total cost of ₹12.5 crore. The subscription was made at face value on an arm's length basis.
Approval from Department of Investment and Public Asset Management, Ministry of Finance was obtained for this transaction. The Certificate of Incorporation was issued by the Registrar of Companies, Ministry of Corporate Affairs.
The incorporation of OPML is aligned with ONGC Group companies' existing downstream and petrochemicals business. The company will serve as a single integrated, market-facing platform for marketing and trading petrochemicals, chemicals and kindred products of the ONGC Group, including branding, business development, customer management, pricing, distribution, logistics, sourcing/trading operations, and sales planning.
As a newly incorporated company, OPML has no history of operating turnover for the preceding three financial years. The transaction was completed with the issuance of the Certificate of Incorporation on 07 October 2026.