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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).

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

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