Oil & Natural Gas Corporation Limited has announced the completion of tenure for three Independent Directors, effective March 28, 2026. The company made this disclosure to stock exchanges in compliance with regulatory requirements under SEBI listing obligations.

Directors Completing Tenure

The following Independent Directors have ceased their positions upon completion of their respective tenures:

All three directors completed their tenure simultaneously on March 28, 2026, marking the end of their service as Independent Directors on the company's board.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. This regulation mandates listed companies to disclose material events and information that could impact investor decisions, including changes in board composition.

The disclosure was communicated to both major stock exchanges where ONGC shares are listed:

• National Stock Exchange of India Ltd (Symbol: ONGC, Series: EQ)
• BSE Limited (Security Code: 500312, NCD: 959881)

Corporate Governance Impact

The simultaneous completion of tenure for three Independent Directors represents a significant change in ONGC's board composition. Independent Directors play a crucial role in corporate governance by providing unbiased oversight and strategic guidance to management.

The notification was signed by Shashi Bhushan Singh, Company Secretary & Compliance Officer, ensuring proper documentation and compliance with regulatory requirements. This formal communication maintains transparency with stakeholders and regulatory authorities regarding board composition changes.

Oil & Natural Gas Corporation Ltd. executed a major block trade on the National Stock Exchange (NSE) worth Rs. 28.57 crores. The transaction involved approximately 1,032,189 shares at a price of Rs. 276.80 per share.

Block Trade Details

The significant institutional transaction highlights continued investor interest in the state-owned oil and gas major. Block trades typically involve large institutional investors and are executed outside the regular market hours to minimize market impact.

Market Significance

This block trade represents a substantial transaction in ONGC shares, indicating institutional activity in the energy sector. Such large-volume trades often reflect portfolio adjustments by institutional investors or strategic stake changes by major shareholders.

The execution price of Rs. 276.80 per share provides insight into the current valuation levels at which institutional investors are willing to transact in the oil and gas major's stock.