ONGC to acquire govt's 51.11% in Hindustan Petroleum Corp for 36,915 crore

The agreement will help the government meet half its disinvestment target through a single share sale. Photograph:( Others )

WION Web Team New Delhi, Delhi, India Jan 20, 2018, 12.51 PM (IST)

The Government of India has entered into an agreement with Oil and Natural Corporation (ONGC) for sale of its 51.11 per cent equity shareholding in Hindustan Petroleum Corporation Limited. 

After the agreement, ONGC will get hold of the government's 51.11 per cent stake in refiner and marketer HPCL for Rs 36,915 crore. 

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The agreement will help the government meet half its disinvestment target through a single share sale.