Govt to get significant stake in HPCL post preference issue five years after company exit
The government had in the annual Budget for 2023-24 (April 2023 to March 2024 fiscal) announced Rs 30,000 crore of capital support to state-run fuel retailers — Indian Oil Corporation (IOC), HPCL and Bharat Petroleum Corporation Ltd (BPCL) — to support their energy transition and net-zero initiatives.