(LiveMint)
After a rap from market regulator Sebi, Hindustan Petroleum Corp Ltd (HPCL) has re-filed shareholding pattern of the company for last six quarters, listing its majority owner Oil and Natural Gas Corp (ONGC) as a ‘promoter’. The Securities and Exchange Board of India (Sebi) had asked HPCL to re-file shareholding pattern to stock exchanges by 13 August 2019 for all quarters since Oil and Natural Gas Corp (ONGC) acquired government’s entire stake in the refiner in January 2018.
HPCL has re-filed with the stock exchanges shareholding pattern of last six quarters beginning March 2018, the company said in a regulatory filing. In the revised shareholding, under the ‘statement showing the shareholding pattern of the Promoter and Promoter Group’, it listed ONGC as a promoter with 77.88 crore shares or 51.11% stake just below President of India with ‘zero’ shares. ONGC in January last year bought the government’s entire 51.11% stake in HPCL for Rs.36,915 crore but continued to be mentioned under “public shareholder” in the filings by the oil marketing company.
