For HPCL, ONGC is still a ‘public shareholder’
Yet another keenly watched quarterly share holding pattern announcement from Hindustan Petroleum Corporation Ltd (HPCL) has failed to provide clarity on its promoter after Oil and Natural Gas Corporation Ltd (ONGC) bought the government’s 51.11 per cent stake in the Mumbai-based state-run oil refiner for ₹ 36,915 crore in January 2018.
For six consecutive quarterly share holding pattern filings to the stock exchange since then including the latest for the quarter ended June, HPCL has listed ONGC as a public share holder. Under the promoter/promoter group category, even the President of India does not hold any shares in HPCL now.
