Oil and Natural Gas Corporation Limited
Key Developments
ONGC Petrochemicals Marketing Limited (OPML) was incorporated on 07 October 2026 as a public limited company. This follows the company's previous filing dated 25.04.2026 regarding the formation of a Joint Venture Company (JVC) with shareholding in the ratio of 50:25:25 by ONGC, Mangalore Refinery and Petrochemicals Limited (MRPL), and ONGC Petro additions Limited (OPaL).
Shareholding Structure
Equity shares have been subscribed by ONGC, MRPL, and OPaL in the ratio of 50:25:25. ONGC together with its nominee shareholders holds 50% of the equity share capital, comprising 2,50,00,000 equity shares of ₹10 each.
Business Operations
OPML will undertake the business of integrated marketing and trading of petrochemicals, chemicals and kindred products. This includes branding, business development, pricing, distribution, logistics, customer management, sourcing/trading, and sales and operations planning for the ONGC Group.
Transaction Details
The acquisition represents a related party transaction as the JVC is formed with group companies. Equity shares have been subscribed at face value, and the transaction is confirmed to be on an arm's-length basis.
Financial Consideration
ONGC invested ₹25 crore as subscription money to acquire 2,50,00,000 equity shares of ₹10 each at face value.
Regulatory Approvals
Approval of Department of Investment and Public Asset Management, Ministry of Finance was obtained. The Certificate of Incorporation was issued by the Registrar of Companies, Ministry of Corporate Affairs.
Completion Timeline
The acquisition was completed with the issuance of the Certificate of Incorporation on 07 October 2026.
Strategic Rationale
The incorporation is aligned with ONGC's existing downstream and petrochemicals business, establishing a single integrated, market-facing platform for marketing and trading petrochemical products of the ONGC Group.