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Oil India to acquire stake in Numaligarh Refinery from BPCL

26 Mar 2021 Evaluate

Oil India (OIL) has entered into a Share Purchase Agreement (SPA) for the proposed acquisition of 39,84,36,929 equity shares in the share capital of Numaligarh Refinery (NRL) from Bharat Petroleum Corporation (BPCL). OIL's proposed acquisition, and the consequent enhancement of its existing shareholding in the target company at the proposed closing date, would result in a transfer of management control of the target company to OIL. OIL would correspondingly replace BPCL as the promoter of the target company.

Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.


Peers
Company Name CMP
ONGC 221.10
Oil India 442.65
Jindal Drilling&Inds 572.80
Deep Industries 746.50
Asian Energy Service 450.15
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