Oil & Natural Gas Corporation Limited — Important, 25-10-2024: General Updates

Oil and Natural Gas Corporation Limited (ONGC) has increased its shareholding in ONGC Petro additions Limited (OPaL) from 94.04% to 94.57% by acquiring 16,710 lakh equity shares, valued at ₹1,671 crore, as part of a conversion of Compulsorily Convertible Debentures (CCDs). This investment was approved by the Board of Directors to facilitate the buy-back of CCDs amounting to ₹7,778 crore from various financial entities.