Mumbai: PTC India Ltd. has successfully completed the sale of its entire 100 per cent stake in PTC Energy Ltd. to ONGC Green Ltd. (OGL). The total value of the deal stands at ₹1,179 crore.
The final payment of ₹254 crore was received on March 19, 2025, marking the completion of the transaction. Earlier, PTC India had received ₹925 crore from OGL on March 4, 2025.
Timeline of the Transaction
The sale was part of a planned divestment strategy announced by PTC India. The company had earlier provided updates regarding this transaction on multiple occasions, including October 19, 2023, October 26, 2023, September 13, 2024, and March 4, 2025.
PTC India entered into a Share Purchase Agreement on September 13, 2024, outlining the terms of the sale. The final amount of ₹1,179 crore was determined after necessary price adjustments as agreed between the parties.
Financial Impact of the Sale
PTC India disclosed that the divested business unit contributed 2 per cent of its consolidated turnover in FY24. Additionally, it accounted for 14.6 per cent of the company’s net worth.
The company also confirmed that the transaction was conducted at arm’s length and does not fall under the category of related party transactions.
ONGC Green Expands Its Portfolio
With the completion of this acquisition, ONGC Green Ltd. has now taken full control of PTC Energy Ltd. OGL, a subsidiary of Oil and Natural Gas Corporation (ONGC), is focused on expanding its presence in the renewable energy sector. The newly acquired assets will strengthen OGL’s portfolio of sustainable and green energy projects.
About PTC Energy and ONGC Green
PTC Energy Ltd. has been a key player in power generation, trading, and renewable energy projects across India. The divestment will allow the company to streamline its operations and focus on its core areas of growth.
Meanwhile, ONGC Green is actively working towards sustainable energy solutions and aims to enhance its contribution to India’s renewable energy sector.
Market Reaction
Following the announcement, shares of PTC India saw a positive movement. The stock was trading 1.39 per cent higher at ₹159.85 on the BSE around 12:41 pm on Thursday.
