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Gulf Oil Corporation Ltd has informed BSE regarding acquisition of shares of the company by Hinduja Power Limited, Mauritius by way of Inter-se transfer of shares between the promoter group entities.
Hinduja Power Limited, Mauritius earlier this month had communicated about the proposed acquisition of shares of Gulf Oil Corporation Limited.
As per the announcement, Hinduja Power Limited, Mauritius has acquired 2,97,18,167 shares of Gulf Oil International (Mauritius) Inc by way of inter-se transfer of shares between the promoter group entities as per the provisions of SEBI regulations.
This transaction, according to the regulatory filing, was effected by way of bulk/block deal on BSE.
The acquirer Hinduja Power Limited, Mauritius and the seller Gulf Oil International (Mauritius) Inc belong to the promoter Hinduja group.
Shares of the Hyderabad-based Gulf Oil Corporation closed the day at Rs 139.60, down 9 per cent at BSE today.
The company had last year de-merged its lubricants business, created a new entity and listed it separately.
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