Acquisitions4 Apr 2025, 12:29 am
Hindustan Oil Exploration Company Ltd to Increase Participating Interest in Block B-80 to 100%
AI Summary
The Hindustan Oil Exploration Company Ltd has announced its intention to increase its participating interest in Block MB/OSDSF/B80/2016 (B-80) to 100%. This will be achieved through the assignment of 40% participating interest in the Block by Adbhoot Estates Private Limited. The assignment is subject to the approval of the Government of India, and the Company is currently in the process of submitting the necessary application. This update is in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Highlights
- Hindustan Oil Exploration Company Ltd to increase participating interest in Block B-80 to 100%
- Increase in participation interest through assignment of 40% participating interest by Adbhoot Estates Private Limited
- Assignment subject to approval from the Government of India
- Company currently in the process of submitting necessary application
- Update in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015