The board of directors of Mangalore Refinery and Petrochemicals Ltd has decided to subscribe the entire shares offered through rights issue by ONGC Mangalore Petrochemicals. The latter had been offered about 45.9 crore shares at ₹14.20 a share by ONGC Mangalore Petrochemicals. The company has already informed the exchanges about its intent to acquire a major stake in OMPL. MRPL will be holding controlling stake in OMPL, following the allotment of rights shares. The stock of MRPL closed flat at ₹65 on the NSE.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.