ONGC issues clarification on reports of ONGC Green Limited’s public listing – CNBC TV18

Oil and Natural Gas Corporation (ONGC) issued a clarification regarding speculation about the potential public listing of its subsidiary, ONGC Green Limited (OGL). The statement follows comments made by ONGC’s Director (Exploration) during a recent interview with The Financial Express.

ONGC Director (Exploration) Sushma Rawat discussed the company’s exploration activities, growth strategies, and its focus on developing a green energy portfolio. Rawat added that it may come up with a listing of its green energy subsidiary ONGC Green in opportune time.

However, the company said in an exchange filing that any decision about a public listing for OGL is subject to approval by its Board and remains a possibility for the future.

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“At present, no concrete plans have been made for a listing,” the state-run oil company stated.

In February this year, ONGC announced that it has incorporated a new subsidiary, ONGC Green, with an authorised capital of ₹100 crore. By 2030, ONGC plans to invest ₹1 lakh crore, and is investing on multiple green initiatives and scaling up its renewable portfolio to 10 GW.

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