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Richa Mishra

New Delhi, July 10

IOC is in the process of finalising a merchant banker to valuate the merger proposal of its subsidiary, Bongaigaon Refinery & Petrochemicals Ltd (BRPL) with the holding company.

The company had recently informed the BSE that the board of directors of the company, at its meeting held on June 30, had recommended merger of BRPL with IOC. The merger proposal has been recommended to the Government for approval in-line with the guidelines of the Department of Public Enterprises.

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