You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

ONGC raises Rs 1500 crore through NCDs

Capital Market 

ONGC announced that it has approved the offer and issuance of up to 15,000 non-convertible debentures (NCDs) of face value of Rs 10 lakh at par aggregating to a total issue size of up to Rs 1,500 crore

ONGC in an exchange filing made after market hours on Thursday said the company has approved the offer and issuance of up to 15,000 unsecured, listed, redeemable, non-cumulative, taxable NCDs of face value of Rs 10,00,000 at par aggregating to a total issue size of up to Rs 1,500 crore on a private placement basis to identified investors at the interest rate of 4.50% p.a. payable annually.

The tenure of the instrument is three years and 29 days from the date of allotment. The NCDs will mature on 9 February 2024.

Shares of ONGC were trading 1.48% higher at Rs 99.35 on BSE.

ONGC is India's largest integrated oil and gas company. ONGC is 60.41% owned by the Government of India (as on 30 September 2020).

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, January 08 2021. 09:19 IST