ONGC Limited Buyback 2018
Overview of the ONGC
Maharatna ONGC is the largest crude oil and natural gas Company in India, contributing around 70 percent to Indian domestic production. Crude oil is the raw material used by downstream companies like IOC, BPCL, and HPCL to produce petroleum products like Petrol, Diesel, Kerosene, Naphtha, and Cooking Gas-LPG.
This largest natural gas company ranks 11th among global energy majors (Platts). It is the only public sector Indian company to feature in Fortune’s ‘Most Admired Energy Companies’ list. ONGC ranks 18th in ‘Oil and Gas operations’ and 183rd overall in Forbes Global 2000.
Business Activity of the Company
1. Exploration– Oil and Natural Gas Corporation Limited (ONGC) is a global energy holding company, engaged in the oil exploration, development, and production of crude oil and natural gas. Its segments include Exploration & Production (E&P), and Refining.
2. Drilling- ONGC operates some 105 drilling and 74 workover rigs. It is among the few companies in the world to have drilled 127 deepwater wells in diverse and challenging areas, establishing itself as one of the leading oil drilling companies in India.
Buy Back Offer Deal:
|Buyback Type:||Tender offer|
|Buyback Record Date:||Jan 04 2019|
|Buyback Opening Date:||Jan 29 2019|
|Buyback Closing Date:||Feb 11 2019|
|Buyback Offer Amount:||₹ 4402 Cr|
|Date of Board Meeting approving the proposal:||Dec 20 2018|
|Date of Public Announcement:||Dec 20 2018|
|Buyback Offer Size:||1.97%|
|Buyback Number of Shares:||25,29,55,974|
|Buyback Price:||₹ 159 Per Equity Share|
Details of Buyback:
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
|Amount Invested in Buyback||1,84,905||1,84,905||1,84,905||1,84,905|
|No. of Shares buyback||414||628||942||1257|