ONGC to acquire HPCL
November 4th, 2017
The Cabinet approved ONGC for acquiring majority 51.11 % stake in HPCL (Hindustan Petroleum Corporation Limited). ONGC’s acquisition of 51.11 % stake in HPCL is in line with the government’s plan to create an integrated energy major with businesses spread across the hydrocarbon value chain. The government’s stake in HPCL is sold to ONGC for an amount of Rs 26,000 crore to Rs 30,000 crore.