ONGC Establishes Petrochemicals Marketing JV, Subscribes ₹25 Crore For 50% Stake
· Free Press Journal
Mumbai: Oil and Natural Gas Corporation (ONGC) announced on Wednesday the incorporation of ONGC Petrochemicals Marketing Limited (OPML) as a public limited company on 7 October 2026. ONGC has acquired a 50 per cent equity share capital in OPML, amounting to 2,50,00,000 equity shares of ₹10 each, for a total consideration of ₹25 crore.
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Joint Venture Structure
OPML is a joint venture company with ONGC holding 50 per cent, Mangalore Refinery and Petrochemicals Limited (MRPL) 25 per cent, and ONGC Petro additions Limited (OPaL) 25 per cent. The equity shares were subscribed at face value, and the transaction was conducted on an arm’s-length basis, according to the company.
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OPML will operate in the petrochemicals marketing and trading industry. Its primary business will involve integrated marketing and trading of petrochemicals, chemicals, and related products for the ONGC Group.
Strategic Objectives
The new entity aims to create a unified platform for branding, business development, pricing, distribution, logistics, customer management, and sales and operations planning. This aligns with ONGC’s existing downstream and petrochemicals operations.
Regulatory Approvals
The Department of Investment and Public Asset Management, Ministry of Finance, granted its approval for the incorporation. The Registrar of Companies, Ministry of Corporate Affairs, issued the Certificate of Incorporation.
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OPML was incorporated in India on 7 October 2026. As a newly established company, it has no operational turnover history from the preceding three financial years. The authorised and subscribed share capital of OPML is ₹50 crore, divided into 5 crore equity shares of ₹10 each.
Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.