Oil India has on 25 March 2021 entered into a share purchase agreement for the proposed acquisition of 39,84,36,929 equity shares in the share capital of Numaligarh Refinery (a company primarily engaged in the business of refining of petroleum products) from Bharat Petroleum Corporation.
Also, Engineers India is also a party to the SPA and would independently be acquiring 3,21,46,957 equity shares from BPCL pursuant to the SPA
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