Petrochemical marketing and trading JV incorporated; 25% stake subscribed for ₹12.5 crore

Joint venture incorporated as ONGC Petrochemicals Marketing Ltd on 7 October 2026 for petrochemicals marketing and trading.

Thu 8 Oct 2026

JV Incorporated

ONGC Petrochemicals Marketing Ltd on 7 October 2026

Shareholding

ONGC 50%, MRPL 25%, OPaL 25%

MRPL Subscription

1,25,00,000 equity shares of ₹10 each for ₹12.5 crore

MRPL has disclosed the incorporation of the joint venture company that will market and trade petrochemicals for the ONGC group.

What happened

• The joint venture has been incorporated in the name of ONGC Petrochemicals Marketing Limited (OPML) on 7 October 2026 as a public limited company.
• This is a continuation of the company's update dated 27/04/2026 about the formation of a joint venture company with shareholding in the ratio of 50:25:25 by ONGC, MRPL and OPaL.
• OPML will undertake the business of integrated marketing and trading of petrochemicals, chemicals and kindred products.

The numbers

• Authorised and subscribed share capital of OPML: ₹50 crore, divided into 5 crore equity shares of ₹10 each.
• MRPL together with its nominee shareholders holds 25% of the paid-up equity share capital, comprising 1,25,00,000 equity shares of ₹10 each.
• Cost of acquisition: ₹12.5 crore, being the subscription money paid by MRPL and its nominee shareholders through cash consideration by subscribing to equity shares at face value.
• The 50:25:25 ratio means ONGC 50%, MRPL 25% and OPaL 25%.

Why this company is being set up

• The stated object is to establish a single integrated, market-facing platform for marketing and trading petrochemicals, chemicals and kindred products of the ONGC Group.
• That platform covers branding, business development, pricing, distribution, logistics, customer management, sourcing and trading, and sales and operations planning.
• The company states that the incorporation is aligned with the group companies' existing downstream and petrochemicals business.

Approvals and status

• Approval of the Department of Investment and Public Asset Management, Ministry of Finance, was obtained.
• The Certificate of Incorporation was issued by the Registrar of Companies, Ministry of Corporate Affairs, on 07 October 2026.
• OPML is newly incorporated and has no turnover history for the preceding three financial years.

How the transaction is described

• The subscription forms part of the establishment of the joint venture company by ONGC, MRPL and OPaL, with the equity shares subscribed in the 50:25:25 ratio.
• The equity shares were subscribed at face value and the transaction is on an arm's length basis.

In simple terms

• MRPL is paying ₹12.5 crore in cash to hold a 25% equity stake in a newly incorporated company whose business is marketing and trading of petrochemicals, chemicals and kindred products.
• The balance is held by the joint venture partners, ONGC and OPaL, together making up 75%.

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