ONGC will reconsider the Government’s demand to list their overseas unit OVL – ONGC Videsh Ltd. OVL is a subsidiary company of ONGC. The company already conveyed the reservations about the listing of OVL to the government.
The government asked ONGC to list its subsidiary as a part of drive to sell state assets to raise funds in last August 2018. According to unauthorised sources, the company got the demand from DIPAM for the listing of OVL but as the market conditions are not good the offer might come later after market get some stable mood.
ONGC Videsh Limited has stakes in 41 oil and gas assets in 20 countries. The company OVL is fully owned by ONGC.
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