Oil and Natural Gas Corporation Limited has secured shareholder approval for two Material Related Party Transactions associated with the Area-1 Offshore Mozambique Project. The resolutions, which addressed the AssetCo Structure and Debt Service Undertaking, were passed with a requisite majority during a postal ballot that concluded on July 3, 2026.

The remote e-voting process was conducted by the National Securities Depository Limited (NSDL) under the supervision of Scrutinizer Sachin Agarwal of M/s. Agarwal S. & Associates. The voting period was open from June 4, 2026, to July 3, 2026, with the record date set as May 29, 2026. A total of 2,772,030 shareholders were eligible to participate.

The first resolution sought approval for the Material Related Party Transaction regarding the AssetCo Structure. It received 4,521,633,118 votes in favour and 156,958 votes against, representing 99.9965% of the total valid votes cast. The second resolution, concerning the Debt Service Undertaking, was approved with 4,521,617,499 votes in favour and 169,213 votes against, accounting for 99.9963% of the valid votes.

Voting Results Summary

Public institutional shareholders participated actively, with 93.3460% of their holdings voted on both resolutions. Public non-institutional shareholders also showed significant engagement, with approximately 75.57% of their shares voted. Promoters and the promoter group did not cast any votes on the resolutions. The detailed scrutinizer's report has been made available on the company's website and the NSDL e-voting portal.

oil & natural gas corporation witnessed a notable block trade on the National Stock Exchange (NSE), with a transaction valued at Rs. 41.26 crores. The trade involved approximately 1,715,809 shares, executed at a price of Rs. 240.49 per share, reflecting significant institutional-level activity in the stock.

Block Trade Details

The following table summarises the key parameters of the block trade recorded on the NSE:

Block trades are large-volume transactions typically executed by institutional investors or major market participants outside the regular order book, often to minimise market impact. The execution of such a trade in Oil & Natural Gas Corporation underscores continued institutional interest in the company's shares.