Mangalore Refinery And Petrochemicals has received approval for acquisition of 1,34,80,000 equity shares of Mangalore SEZ (MSEZ) from IL&FS. After this acquisition, equity stake of the company shall increase from 0.96% to 27.92% in MSEZ. Cost of acquisition is Rs 47.18 crore. The Board of Directors of the company at its meeting held on March 22, 2024 has, inter-alia, approved the same.
Mangalore Refinery and Petrochemicals (MRPL) is Category 1 Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. The company is engaged in the business of refining of crude oil. MRPL is located in a beautiful hilly terrain, north of Mangaluru city, in Dakshina Kannada District of Karnataka State (India).
