HPCL divestment: Cabinet to consider sale of Rs 26k-cr govt stake to ONGC

Union Finance Minister Arun Jaitley

Latest News – The Cabinet is likely to consider this month sale of government’s 51 per cent stake in Hindustan Petroleum Corp Ltd (HPCL) to Oil and Natural Gas Corp (ONGC) for over Rs 26,000 crore.

The Department of Investment and Public Asset Management (DIPAM) in the Ministry of Finance is moving a note for consideration of the Cabinet for divesting government’s entire 51.11 per cent shareholding in India’s third-biggest fuel retailer HPCL to oil producer ONGC.

 

The Cabinet may take up the proposal this month, a source in the government said. “It may come before the Cabinet as early as 10 to 15 days,” he said.

After the Cabinet nod, the government will move to appoint valuation and (Read more)

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