September 01, 2014 11:59 PM ET

Electric Utilities

Company Overview of ONGC Tripura Power Company Limited

Company Overview

ONGC Tripura Power Company Limited engages in the implementation of a 726.6 MW combined cycle gas turbine thermal power project at Palatana in Tripura. 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 Limited operates as a subsidiary of Oil and Natural Gas Corp. Ltd.

6th Floor, A Wing

IFCI Towers

61, Nehru Place

New Delhi,  110019

India

Founded in 2004

Phone:

91 11 2640 2112

Fax:

91 11 2622 7532

Key Executives for ONGC Tripura Power Company Limited

Managing Director and Director
Chief Executive Officer
General Manager of Plant
Compensation as of Fiscal Year 2014.

ONGC Tripura Power Company Limited Key Developments

ONGC Plans Subsidiaries IPO

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.

ONGC Tripura Plans Public Offer

ONGC Tripura Power Company Limited is planning an INR 2.67 billion public offer in 2012-2013.

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