Oil & Natural Gas Corporation Limited has informed the Exchange regarding Notice of 32nd Annual General Meeting to be held on August 29, 2025
ONGC · price
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Awaiting price reaction for this filing.
ONGC has called its 32nd AGM on Friday, August 29, 2025 at 11:00 AM via video conferencing. Shareholders will vote on declaring a final dividend of ₹1.25 per share (25% on face value of ₹5) for FY25, with September 4, 2025 fixed as the record date. The notice includes reappointment of a retiring director, appointment of several new directors including government nominees and independent directors, and appointment of new secretarial auditors for five years. The agenda also seeks shareholder approval for several large related party transactions, including RLNG sales to Petronet LNG worth up to ₹7,369 crore for FY27, Provident Fund contribution of up to ₹1,044 crore, Mozambique Area-1 project asset transfers valued at around ₹14,400 crore, cash calls for South Sudan operations, and extension of a debt service undertaking of up to USD 3,072 million valid until 2033. Remote e-voting runs from August 25 to August 28, 2025, with the cut-off date being August 22, 2025.
Routine AGM notice, but the final dividend of ₹1.25 per share and large related party transaction approvals (especially the Mozambique asset restructuring) are key items to watch. Dividend payments, if approved, will be made within 30 days of the AGM. No immediate material impact on stock price expected, though the Mozambique transactions reflect ongoing capital restructuring in the company's overseas operations.