{"id":426955,"date":"2021-07-22T10:48:46","date_gmt":"2021-07-22T05:18:46","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=426955"},"modified":"2021-07-22T13:20:44","modified_gmt":"2021-07-22T07:50:44","slug":"ioc-gail-may-buy-shares-if-open-offer-for-petronet-igl-gets-triggered-3","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ioc-gail-may-buy-shares-if-open-offer-for-petronet-igl-gets-triggered-3\/","title":{"rendered":"IOC, GAIL may buy shares if open offer for Petronet, IGL gets triggered"},"content":{"rendered":"<p>NEW DELHI: State-owned IOC, GAIL and ONGC NSE 2.18 % may buy shares of Petronet LNG and Indraprastha Gas NSE 0.25 % in the eventuality of an open offer getting triggered post privatisation of Bharat Petroleum Corporation Ltd (BPCL), sources said.<\/p>\n<p>BPCL holds 12.5 per cent of the shareholding in India&#8217;s largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions.<\/p>\n<p>As per the legal position evaluated by the Department of Investment and Public Asset Management (DIPAM) &#8211; the department running the process for the sale of the government&#8217;s entire 52.98 per cent stake in BPCL &#8211; the acquirer of BPCL will have to make open offers to the minority shareholders of Petronet and IGL for the acquisition of 26 per cent shares.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: State-owned IOC, GAIL and ONGC NSE 2.18 % may buy shares of Petronet LNG and Indraprastha Gas NSE 0.25 % in the eventuality of an open offer getting triggered post privatisation of Bharat Petroleum Corporation Ltd (BPCL), sources said. BPCL holds 12.5 per cent of the shareholding in India&#8217;s largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions. As per the legal position evaluated by the Department of Investment and Public Asset Management (DIPAM) &#8211; the department [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-426955","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/426955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=426955"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/426955\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=426955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=426955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=426955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}