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ONGC Deal: State-owned Oil and Natural Gas Corporation Ltd (ONGC) on Thursday (Jan 22) announced that the PSU will acquire 50 per cent in two Bharat Ethane
IFSC firms via private placement. The acquisition will form 50:50 joint venture through private placement. Department of Investment and Public Asset Management (DIPAM) approval has been obtained for the formation of JVs. Each JV would own one VLEC to be used for bringing ethane for ONGC Petro additions Limited (OPaL), a subsidiary of ONGC.
#StockInNews | ONGC: To acquire 50% in two Bharat Ethane IFSC firms pic.twitter.com/3DYgTKHBxC
— ET NOW (@ETNOWlive) January 22, 2026
"Acquisition of 50% shareholding through private placement in Bharat Ethane One IFSC Private Limited & Bharat Ethane Two IFSC Private Limited
Both companies were incorporated in September, 2025 and have not entered in any business activity yet," the company informed in its January 22 dated exchange filing.
"The Company has been allotted 2,00,000 equity shares, having a face value of ₹100/- each, issued by Bharat Ethane One IFSC Private Limited and another 2,00,000 equity shares, having a face value of ₹100/- each, issued by Bharat Ethane Two IFSC Private Limited through private placement. As a result of these equity subscriptions ONGC has become a 50% Joint Venture Partner with M/s Mitsui O.S.K. Lines Ltd., Japan (MOL) in both the companies."
ONGC Share Price
The stock closed at Rs 244, up 0.70 per cent from its previous closing, on BSE.ONGC Share Price History
- The 52-week share price range is Rs 266.25 and Rs 205.
- In two weeks, the stock rose over 5 per cent.
- In 1 month, shares gained around 4 per cent.
ONGC in December reported a 16.7 per cent drop in its third-quarter net profit as it realised lower rates for crude oil it produces.
Standalone net profit was at Rs 8,240 crore in October-December 2024 - the third quarter of April 2024 to March 2025 financial year - compared with Rs 9,892 crore in the same period a year back, according to a company statement.
The firm realised USD 72.57 per barrel for crude oil from below ground and seabed it produced and sold to refiners for turning into fuels like petrol and diesel. This compared with a realisation of USD 81.13 per barrel in October-December 2023.
Prices of natural gas, which is used to generate electricity, make fertiliser and turned into CNG for sale to automobiles and piped to household kitchens for cooking, remained unchanged at USD 6.50 per million British thermal unit.
Gross revenue fell 3.1 per cent to Rs 33,771 crore on lower oil prices.
