Industry And Cluster
The Boards of Directors of MRPL & OMPL have Approved a Merger
Published on
Author: Manali Bhanushali
With this transaction, MRPL's stake in OMPL increased to 99.9998%.
The boards of Mangalore Refinery and Petrochemicals Ltd (MRPL) and ONGC Mangalore Petrochemicals Ltd (OMPL), a wholly owned subsidiary of MRPL, have approved the plan to merge OMPL and MRPL.
On Thursday, MRPL informed stock exchanges that the board meetings of MRPL and OMPL had approved the scheme of amalgamation on June 10.
On January 1, ONGC transferred 124.67 crore OMPL shares to MRPL's demat account.
With this transaction, MRPL's stake in OMPL increased to 99.9998%.
Image Source: thehindubusinessline.com