ONGC Green Awaits Board Approval for Stock Market Debut

ONGC Green has no immediate plans for a public listing. The parent ONGC clarified this stance following media reports about a potential listing of the green energy subsidiary. The joint venture with NTPC aims to bolster renewable energy initiatives in India, reducing reliance on fossil fuels.

ONGC Green is currently not considering a stock market listing, as confirmed by its parent company ONGC, addressing media speculation about a possible public offering of the subsidiary. Any decision regarding a public listing will be made by the ONGC Board in due course, as stated by the company on Saturday.

Incorporated on February 24, 2024, ONGC Green Limited is actively working towards establishing a robust green energy portfolio.

In an effort to intensify their commitment to renewable energy, Maharatna companies NTPC and ONGC have joined forces through their respective subsidiaries, NTPC Green Energy Ltd and ONGC Green Energy Ltd. This collaboration is part of a broader strategy to shift away from India's heavy reliance on fossil fuels, aiming for greater sustainability and energy independence through renewables.

(With inputs from agencies.)