Company Overview of ONGC Tripura Power Company Ltd.
ONGC Tripura Power Company Ltd. operates a 726.6 MW combined cycle gas turbine thermal power plant. It focuses on supplying power to the power deficit areas of North Eastern states in India. The company was incorporated in 2004 and is based in New Delhi, India. ONGC Tripura Power Company Ltd. operates as a subsidiary of Oil and Natural Gas Corp. Ltd.
6th Floor, A Wing
61, Nehru Place
New Delhi, 110019
Founded in 2004
Key Executives for ONGC Tripura Power Company Ltd.
Managing Director and Director
Compensation as of Fiscal Year 2014.
ONGC Tripura Power Company Ltd. Key Developments
ONGC Seeks A Partner
Nov 28 14
ONGC Tripura Power Company Ltd. is looking for a partner for the balance stake.
ONGC Reportedly Eyes Sale Of Petrochem Ventures, Power Project
Nov 13 14
Oil and Natural Gas Corp. Ltd. (BSE:500312) reportedly plans to divest a 25% interest in each of ONGC Tripura Power Company Ltd., ONGC Petro-Additions Limited and ONGC Mangalore Petrochemicals Limited to strategic investors prior to their public listing. The company is in discussions with several potential buyers. The divestment could together attract funds of at least $1 billion based on investments required by these projects.
ONGC Plans Subsidiaries IPO
Jul 23 13
Oil and Natural Gas Corp. Ltd. (BSE:500312) plans offering of ONGC Tripura Power Company Limited; ONGC Petro-Additions Limited (OPAL); and ONGC Mangalore Petrochemicals Limited (OMPL). ONGC plans to sell 26% stake in OMPL and intends to divest another 25% through an initital public offering in the future. The promoter group will eventually hold 49% stake of OMPL, in which they have so far infused INR 980 crore. OMPL's fund raising model (mix of strategic/financial investors and retail investors) will be replicated in ONGC's another upcoming petrochemical project in Dehej, Gujarat, called OPAL. "ONGC is planning to tap the capital markets for OMPL, OPAL and ONGC Tripura Power as these projects are nearing completion," an ONGC board member said without giving any time frame for the IPOs or the amount it wants to raise. "The purpose of IPO will not be for raising cash but to ensure that these firms have strong balance sheet and can take care of the future funding requirements on their own," he added.
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