ONGC Videsh to raise $1 billion in April
State-run explorer ONGC’s foreign arm ONGC Videsh (OVL) will raise $1 billion from the overseas market in April, a company official said. The amount would be used for part-payment towards a 15% stake bought by the company in Russia’s Vankorneft for $1.25 billion in 2015. OVL on Wednesday signed an MoU to acquire an additional 11% in the same asset.