Hinduja Power has raised its stake in the Hinduja group promoted company, GOCL Corporation to 68.64% from 64.94%. Post the acquisition, the total shareholding of the promoters has gone up to 4,95,72,490 shares 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.
GOCL Corporation is the parent company of Gulf Oil Corporation, which was restructured to carve out a separate listed entity for lubricants.
