Allotment of equity shares by Joint Venture companies
As filed · Oil & Natural Gas Corporation Limited has informed the Exchange about Allotment of equity shares by Joint Venture companies
BusinessWatchNotablemateriality 62 out of 100
What happened
FactOil and Natural Gas Corporation has become a 50% Joint Venture Partner with Mitsui O.S.K. Lines Ltd. in two entities, Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited. The company has been issued 71,57,185 equity shares of ₹100 each from each joint venture, maintaining a 50% shareholding in both entities. The total cumulative holding in both joint ventures is 1,43,87,861 equity shares of ₹100 each.
Why it matters
CapitSignal interpretationA joint venture commits capital and management time to an asset the company only part-owns.
Watch next
Fact- Capital commitment and ownership split
- Whether it is consolidated or equity-accounted
Evidence
How CapitSignal classified this
- Reasoning:
- JOINT_VENTURE base 54; +5 quantified amount; +3 quantified percentage; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%