Saturday, October 27, 2007

ONGC Petro plans IPO

Oil and Natural Gas Corporation (ONGC), the country's leading public sector company, is planning an initial public offer (IPO) of ONGC Petro-additions Limited (OPaL), the special purpose vehicle formed for the Rs 13,500 crore petrochemical complex at Dahej in Gujarat. The IPO will be planned after the finalsation of the other equity partner or partners to the project - possibly by early next year.

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