New Delhi: ONGC Green presently has no concrete plans for a stock market listing, the parent company ONGC informed stock exchanges, in clarification after a media report on likely public listing of its subsidiary company.
However, any decision regarding a public listing remains for the future as and when decided by ONGC Board, the company informed stock exchanges late on Saturday.
ONGC Green Limited was incorporated on February 24, 2024.
The company is in the process of building a green energy portfolio.
Recently, the Maharatna companies NTPC and ONGC have collaborated to form a joint venture company through their green energy subsidiaries NTPC Green Energy Ltd and ONGC Green Energy Ltd to further promote their interest in renewables and new energy arena.
India meets a sizable portion of its energy needs through fossil fuels, and various renewable energy sources, are seen as an avenue to reduce the dependence on conventional sources of power. (ANI)