BAJAJ BROKING
ONGC has approved a ₹1,200 crore investment in ONGC Green Ltd for acquiring PTC Energy. The funds will be infused through a Rights Offer of equity shares. ONGC share price fell 2.31%, closing at ₹234.35 on BSE. The Board also approved a ₹75 crore corporate guarantee replacement.
State-owned Oil and Natural Gas Corporation (ONGC) has approved an investment of ₹1,200 crore in its wholly owned subsidiary, ONGC Green Ltd (OGL), through a Rights Offer of equity shares. The funding will be utilised for acquiring a 100% equity stake in PTC Energy Limited, in line with the Share Purchase Agreement signed on 13 September 2024. The decision was made during ONGC’s Board meeting on 24 February 2025.
Also read: NTPC & NTPC Green Energy to Invest ₹2 Lakh Crore in Madhya Pradesh
ONGC will invest ₹1,200 crore in ONGC Green through a Rights Offer.
The funds will be used for acquiring PTC Energy Limited.
ONGC’s Board has approved replacing a ₹75 crore corporate guarantee on behalf of OGL.
ONGC share price declined by 2.31%, closing at ₹234.35 on BSE.
Also read: Biocon Biologics Launches YESINTEK Biosimilar in US for Autoimmune Diseases
With this investment, ONGC continues its diversification into the renewable energy sector, reinforcing its commitment to sustainability. PTC Energy Limited, a subsidiary of PTC India, has a renewable energy portfolio that includes wind power assets across various states. The acquisition aligns with ONGC’s strategy to expand its green energy footprint and reduce dependency on conventional fuel sources.
OGL, a dedicated renewable energy subsidiary of ONGC, will utilise the Rights Equity Share capital proceeds to complete the acquisition of PTC Energy. Additionally, the Board has approved the replacement of a ₹75 crore corporate guarantee for PTC Energy Limited, further strengthening ONGC’s financial backing in the deal.
Following the announcement, ONGC share price witnessed a decline, closing at ₹234.35, down by ₹5.55 or 2.31% on the BSE. Market reactions indicate investor caution regarding the investment's immediate impact on ONGC’s balance sheet, despite its long-term sustainability goals.
Investment Details | Amount (₹ crore) |
ONGC Green Investment | 1,200 |
Purpose | PTC Energy Acquisition |
Corporate Guarantee | 75 |
ONGC’s investment in ONGC Green for the PTC Energy acquisition is a strategic step towards expanding its renewable energy portfolio. While the short-term market response has been cautious, this move aligns with ONGC’s long-term sustainability vision, strengthening its position in the green energy sector.
Also read: Govt Seeks Merchant Bankers for PSU Stake Sale in Banks & Financial Firms
Do you have a trading account app or demat account app?
You can open an account with Bajaj Broking in minutes.
Download the Bajaj Broking app now from Play Store or App Store.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://www.bajajbroking.in/disclaimer
Share this article:
Disclaimer :
The information on this website is provided on "AS IS" basis. Bajaj Broking (BFSL) does not warrant the accuracy of the information given herein, either expressly or impliedly, for any particular purpose and expressly disclaims any warranties of merchantability or suitability for any particular purpose. While BFSL strives to ensure accuracy, it does not guarantee the completeness, reliability, or timeliness of the information. Users are advised to independently verify details and stay updated with any changes.
The information provided on this website is for general informational purposes only and is subject to change without prior notice. BFSL shall not be responsible for any consequences arising from reliance on the information provided herein and shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability. Interest rates, fees, and charges etc., are revised from time to time, for the latest details please refer to our Pricing page.
Neither the information, nor any opinion contained in this website constitutes a solicitation or offer by BFSL or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service.
BFSL is acting as distributor for non-broking products/ services such as IPO, Mutual Fund, Insurance, PMS, and NPS. These are not Exchange Traded Products. For more details on risk factors, terms and conditions please read the sales brochure carefully before investing.
Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For more disclaimer, check here : https://www.bajajbroking.in/disclaimer
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading