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Oil and Natural Gas Corporation (ONGC), Mangalore Refinery and Petrochemicals Ltd (MRPL) and ONGC Petro additions Ltd (OPaL) incorporated a joint venture company named ‘ONGC Petrochemicals Marketing Ltd’ (OPML) on October 7, 2026 as a public limited company to undertake the business of integrated marketing and trading of petrochemicals, chemicals and kindred products.
OPML has an authorised and subscribed share capital of ₹50 crore divided into 5 crore equity shares of ₹10 each. As a newly incorporated company, OPML has no operating turnover history.
Equity shares of the company have been subscribed by ONGC, MRPL and OPaL in the ratio of 50:25:25. MRPL informed the stock exchanges that equity shares have been subscribed at face value, and the transaction is on an arm's-length basis.
MRPL, along with nominee shareholders, has subscribed to 1,25,00,000 equity shares, representing a 25 per cent stake in OPML. The subscription involves a cash consideration of ₹12.5 crore, with the shares issued at face value of ₹10 each.
OPML will focus on establishing a single integrated, market facing platform to marketing and trading of petrochemicals, chemicals and kindred items of the ONGC Group. Its activities will include branding, business research, pricing, distribution, logistics, customer regulation, sourcing /trading, sales and operations planning. The incorporation is aligned with group companies' existing downstream and petrochemicals business.
Published on October 8, 2026
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