MRPL acquires major stake in OMPL

Mangalore Refinery and Petrochemicals Ltd (MRPL) has decided to acquire a major stake in ONGC Mangalore Petrochemicals Ltd (OMPL). The company informed the BSE on Monday that the board of directors has approved acquiring major stake in OMPL. MRPL was holding 3 per cent of the paid-up equity of OMPL. This has been increased to 46 per cent by purchasing fully paid-up equity shares from individual shareholders, it said.