Business Companies 20 Jan 2018 ONGC to acquire govt ...

ONGC to acquire govt stake in HPCL for Rs 36,915 crore

PTI
Published Jan 20, 2018, 5:21 pm IST
Updated Jan 20, 2018, 5:21 pm IST
ONGC will pay govt Rs 473.97 per share, a premium of over 10 pc of 60-days weighted average of HPCL's scrip.
ONGC's share had closed at Rs 193.60 on BSE on Friday, down 0.23 per cent over its previous close.
 ONGC's share had closed at Rs 193.60 on BSE on Friday, down 0.23 per cent over its previous close.

Mumbai: State-owned ONGC on Saturday 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.

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

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Location: India, Delhi, New Delhi




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