ONGC OPaL: ONGC to infuse Rs 15,000 cr in OPaL, edge out GAIL to take control of petchem firm
Oil and Natural Gas Corporation (ONGC) will invest approximately Rs 15,000 crore in ONGC Petro-additions Ltd (OPaL) as part of a financial restructuring plan, resulting in GAIL being edged out of the petrochemical firm. ONGC currently holds a 49.36% stake in OPaL, with GAIL (India) Ltd holding 49.21% and Gujarat State Petrochemical Corp holding the remaining 1.43%.
Source: indiatimes.com