ONGC to acquire govt's entire stake in HPCL for ₹36,915 cr

State-owned ONGC on Saturday said it will acquire the government's entire 51.11% stake in Hindustan Petroleum (HPCL) for ₹36,915 crore. ONGC said "shares will be acquired against cash" and the transaction will be closed before the month-end. The acquisition has helped government surpass its budgeted target for disinvestment of ₹72,500 crore for the current fiscal.