Held on 03 December 2021
The Board of Mangalore Refinery And Petrochemicals at its meeting held on 03 December 2021 has approved acquisition of up to 100% of the compulsorily convertible debentures (CCD) issued by ONGC Mangalore Petrochemicals (OMPL), a wholly owned subsidiary of the Company, from the debenture holders, for an aggregate consideration of up to Rs 1,000 crores.The Board also approved availing of credit facilities of an amount up to Rs 1,025 crore for the purpose of and in connection with funding the acquisition of the CCDs issued by OMPL, from any bank/ non-banking financial company/ financial institutions/ mutual fund/ any other person, with or without security over the assets of the Company.
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