ONGC, IOC raise Rs 3,140 cr in debt
New Delhi: State-owned Oil and Natural Gas Corp (ONGC) and Indian Oil Corp (IOC) have raised Rs 3,140 crore in debt to meet business expenses. In separate regulatory filings, the two firms said they raised the debt through non-convertible debentures (NCDs).
IOC said it raised Rs 2,000 crore on a private placement basis.
“The funds raised through this issue will be utilized for, inter alia, refinancing of existing
