India's Energy Maharatna 'ONGC' Marks 30 Years of Listing
A key milestone came in 2004, when the company launched a record-breaking Initial Public Offering (IPO) that raised Rs 10,500 crore
India's Energy Maharatna 'ONGC' Marks 30 Years of Listing
New Delhi: Oil and Natural Gas Corporation (ONGC), India’s energy Maharatna, proudly marked the 30th anniversary of its listing on Indian stock exchanges today, celebrating a remarkable journey of value creation, public service, and contribution to the nation's economic growth.
Since entering the public markets in February 1994, ONGC has played a pivotal role in shaping India's capital markets. A key milestone came in 2004, when the company launched a record-breaking Initial Public Offering (IPO) that raised Rs 10,500 crore — a feat that was oversubscribed in under an hour. This landmark event not only showcased investor confidence but also enabled the Government of India to exceed its disinvestment targets, setting a benchmark for public sector equity offerings.
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From an investor base of just 76,703 shareholders in 2004, ONGC today boasts over 30 lakh shareholders, underscoring its position as a trusted vehicle of wealth creation. The growth in shareholder value has been extraordinary — a single share allotted at Rs 270 in 1994 has appreciated nearly 36 times through stock splits and bonuses. With the current market price at Rs 246, that initial share is now valued at approximately Rs 8,856, translating to a return of over 3,000% and a compound annual growth rate (CAGR) of nearly 12%, excluding dividends.
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“This is more than a corporate milestone; it is a celebration of India’s growth story,” said an ONGC spokesperson. The legacy of ONGC’s market journey not only highlights its enduring value proposition but also its role in empowering generations of investors and contributing to national development.
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