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ONGC plans to sell stake in OPaL, eyes global investors
Mint Mumbai
|January 30, 2026
State-run Oil and Natural Gas Corp. plans to come up with a global tender for selling stake in its petrochemical subsidiary, according to a top executive.
The proposed share sale is part of the government's requirement to offload stakes in the company to monetize assets.
(REUTERS)
ONGC Petro additions (OPaL) has “become our subsidiary, and we have been mandated to dilute our stake in it and bring it back to a JV structure through a global tender”, said Arunangshu Sarkar, director, strategy & corporate affairs at ONGC, on the side lines of the ongoing India Energy Week 2026. “We are looking for partners. We hope to come out with a global expression of interest (Eol).”
Sarkar did not specify the quantum of shares the state-run energy major would off load in the proposed private placement.
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