Profit

ONGC To Acquire Government Stake In HPCL For Rs 36,915 Crore

ONGC will pay Rs 473.97 per share, a premium of over 10 per cent of the 60-days weighted average of HPCL's stock.

 Share
EMAIL
PRINT
COMMENTS
ONGC To Acquire Government Stake In HPCL For Rs 36,915 Crore

ONGC's share had closed at Rs 193.60 on BSE on Friday

Mumbai: State-owned ONGC today said it will acquire the government's entire 51.11 per cent stake in HPCL for Rs 36,915 crore. ONGC will pay the government Rs 473.97 per share, a premium of over 10 per cent of the 60-days weighted average of HPCL's scrip.

In a stock exchange filing, ONGC said "shares will be acquired against cash" and the transaction will be closed before month-end. 
  
ONGC's share had closed at Rs 193.60 on BSE on Friday, down 0.23 per cent over its previous close.

Comments
HPCL shares traded last at Rs 416.55, up 1.34 per cent.


(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................