Oil & Natural Gas Corporation Limited — Board Meeting, 24-02-2025: Outcome of Board Meeting

The Board of Directors of Oil and Natural Gas Corporation Limited has approved significant investments in its wholly owned subsidiary, ONGC Green Limited (OGL). This includes an infusion of ₹1,200 Cr through a Rights Offer. Additionally, OGL plans to use the proceeds from this capital raise to acquire a 100% equity stake in PTC Energy Limited, following a prior share purchase agreement. The board also granted approval for a replacement of a corporate guarantee amounting to ₹75 Cr for OGL in relation to PTC Energy Limited.