The board of directors of Indian Oil Corporation (IOC) has approved the scheme of amalgamation for merger of Bongaigaon Refinery & Petrochemicals Ltd (BRPL) with the company by recommending a swap of four equity shares of Rs 10 each of IOC for every 37 equity shares of the same value of BRPL. The scheme is subject to the approval from the government and other regulatory approvals. IOC holds 74.46% stake in BRPL, which owns a 2.35 million tpa refinery in Assam and other petrochemical units.
30-Nov-06 
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