Bengal govt may get Rs 1,688 cr from HPL

Oct 16 2013, 02:34 IST
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SummaryThe West Bengal government may garner about Rs 1,688 crore for offloading its 39.9 per cent stake in the ailing Haldia Petrochemicals Ltd

The West Bengal government may garner about Rs 1,688 crore for offloading its 39.9 per cent stake in the ailing Haldia Petrochemicals Ltd (HPL) as Indian Oil Corporation has offered a bid price of Rs 25 per share, sources said. “IOC has offered a price of Rs 25 per share for the government’s stake in HPL which was much above the reserve price,” a source told PTI. At that price, the government will be able to realise around Rs 1,688 crore from the sell-off, the sources said. State-run IOC had emerged as sole bidder for the HPL stake and had submitted its bid on October 7, which was opened on October 10.

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