×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

ONGC to come out with IPO for its $2.5 bn plant

ONGC to come out with IPO for its $2.5 bn plant
PTI
Comment E-mail Print Share
First Published: Thu, Mar 26 2009. 03 50 PM IST
Updated: Thu, Mar 26 2009. 03 50 PM IST
New Delhi: ONGC will come out with an initial public offer (IPO) of its unit that is building a petrochemical plant at Dahej in 2011-12.
“We would look for an IPO closer to the completion of the $2.5 billion project ... We do not need funds for next two years,” ONGC chairman RS Sharma said.
ONGC holds 26% stake in ONGC Petro-additions Ltd (OPaL), while state-run GAIL has 19% and GSPC has 5%.
Sharma said the company has received commitment for more than Rs8,000 crore for the debt component of the project from banks.
Comment E-mail Print Share
First Published: Thu, Mar 26 2009. 03 50 PM IST
More Topics: ONGC | GAIL | IPO | Money Matters | IPOs |