11 hrs ago
ONGC Forms ₹50 Crore Petrochemicals Marketing Joint Venture
ONGC and two related companies have created a new company called ONGC Petrochemicals Marketing Limited, or OPML.
It was incorporated in India on October 7, 2026.
ONGC owns half of it, and MRPL and OPaL each own one quarter.
ONGC and its nominees invested ₹25 crore, while MRPL and its nominees subscribed ₹12.5 crore.
OPML will help the ONGC Group market and trade petrochemicals, chemicals and related products.
It will coordinate work such as branding, pricing, delivery and customer management.
Its total authorised and subscribed share capital is ₹50 crore.
Government departments approved the venture and issued its incorporation certificate.
As a newly formed company, OPML has no operating turnover history.
ONGC Petrochemicals Marketing Limited (OPML) was incorporated as a public limited company on October 7, 2026.
ONGC owns 50% of OPML, while Mangalore Refinery and Petrochemicals Limited (MRPL) and ONGC Petro additions Limited (OPaL) each own 25%.
ONGC and its nominee shareholders subscribed ₹25 crore for 2.5 crore shares; MRPL and its nominees subscribed ₹12.5 crore for 1.25 crore shares.
OPML has ₹50 crore in authorised and subscribed share capital, divided into 5 crore shares with a face value of ₹10 each.
The company will provide integrated marketing and trading for ONGC Group petrochemicals, chemicals and related products, including branding, pricing, distribution and logistics.
- Who
- Oil and Natural Gas Corporation (ONGC), Mangalore Refinery and Petrochemicals Limited (MRPL), and ONGC Petro additions Limited (OPaL).
- What
- They formed ONGC Petrochemicals Marketing Limited (OPML), a joint venture with ownership stakes of 50%, 25% and 25%, respectively.
- Where
- India.
- When
- OPML was incorporated on October 7, 2026; articles differ on whether ONGC announced it on Wednesday or Thursday.
- Why
- To establish an integrated platform for marketing and trading petrochemicals, chemicals and related products across the ONGC Group.
Announcement timing
Reported timing
Day of announcement
Announcement timing
One article says ONGC announced OPML's incorporation on Wednesday.
Reported timing
Other articles say the company informed stock exchanges on Thursday; the articles do not resolve the discrepancy.
Key facts
- Company
- ONGC Petrochemicals Marketing Limited (OPML)
- Incorporation date
- October 7, 2026
- Ownership
- ONGC: 50%; MRPL: 25%; OPaL: 25%
- Subscriptions reported
- ONGC and nominees: ₹25 crore for 2.5 crore shares; MRPL and nominees: ₹12.5 crore for 1.25 crore shares
- Share capital
- ₹50 crore, divided into 5 crore equity shares of ₹10 each
- Planned business
- Integrated marketing and trading of petrochemicals, chemicals and related products for the ONGC Group
- Planned functions
- Branding, business development, pricing, distribution, logistics, customer management, sourcing, storage, sales planning and trading
- Approvals
- The Department of Investment and Public Asset Management approved the venture; the Registrar of Companies issued the certificate of incorporation.
Sources
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