The board of privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Monday approved the merger of its gas subsidiary, BGRL with itself in a bid to streamline corporate structure.
“The board of directors of the company at its meeting today, ie March 22, 2021, has considered and approved the Scheme of Amalgamation of Bharat Gas Resources Ltd (BGRL) with the company (BPCL),” the firm said in a stock exchange filing.
BGRL is a 100 per cent subsidiary of BPCL and its main business is gas sourcing and retailing.
The merger will streamline the corporate structure and consolidate the assets and liabilities of BGRL within BPCL.
