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Hinduja Power Ltd has increased its stake in the Hinduja group promoted company, GOCL Corporation Ltd, formerly Gulf Oil Corporation Ltd, from 64.94 per cent to 68.64 per cent.
Post the acquisition, the total shareholding of the promoters has gone up to 4,95,72,490 shares (68.64 per cent) of the equity in GOCL Corporation which is based in Hyderabad.
Recently, Hinduja Power along with persons acting in concert, had increased its stake in the company from 64.94 per cent to 67.65 per cent.
Hinduja Power, Mauritius, along with persons acting in concert, had 3,35,36,645 shares of Rs 2 each aggregating 67.65 per cent, before the acquisition of 4,90,000 shares amounting to 0.99 per cent. The acquisition was made through open market purchase on BSE and NSE on April 26.
GOCL Corporation is the parent company of Gulf Oil Corporation, which was restructured to carve out a separate listed entity for lubricants.
GOCL shares ended at Rs 145, down 1.23 per cent on the BSE.
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