Hindustan Petroleum Corporation (HPCL) has agreed to rectify the shareholding pattern to include Oil and Natural Gas Corp (ONGC) as a promoter after it got a reprimand from capital markets regulator SEBI for refusing to recognise its majority shareholder.
The SEBI asked HPCL to re-file shareholding pattern to stock exchanges by August 13 for all quarters since ONGC acquired government's entire stake in the refiner in January 2018.
HPCL is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra. It has about 25% marketing share in India among PSUs and a strong marketing infrastructure.
