'No concrete plans': ONGC rules out public listing of green energy arm
'No concrete plans': ONGC rules out public listing of green energy arm
Mumbai: Oil and Natural Gas Corporation (ONGC) has issued a clarification addressing speculation about the potential public listing of its subsidiary, ONGC Green Limited (OGL).
The statement follows remarks made by ONGC’s Director (Exploration), Sushma Rawat, during a recent interview with The Financial Express.
In the interview, Rawat discussed the company’s exploration efforts, growth strategies, and its emphasis on expanding a green energy portfolio.
She also mentioned the possibility of listing ONGC Green at an opportune time.
However, ONGC clarified in an exchange filing that any decision regarding a public listing for OGL would require Board approval and remains a consideration for the future.
“At present, no concrete plans have been made for a listing,” the company stated.
Earlier this year, ONGC announced the incorporation of ONGC Green as a new subsidiary with an authorised capital of Rs 100 crore.
The statement follows remarks made by ONGC’s Director (Exploration), Sushma Rawat, during a recent interview with The Financial Express.
In the interview, Rawat discussed the company’s exploration efforts, growth strategies, and its emphasis on expanding a green energy portfolio.
She also mentioned the possibility of listing ONGC Green at an opportune time.
However, ONGC clarified in an exchange filing that any decision regarding a public listing for OGL would require Board approval and remains a consideration for the future.
“At present, no concrete plans have been made for a listing,” the company stated.
Earlier this year, ONGC announced the incorporation of ONGC Green as a new subsidiary with an authorised capital of Rs 100 crore.
By 2030, ONGC aims to invest Rs 1 lakh crore, focusing on various green initiatives and expanding its renewable energy portfolio to 10 GW.
