Board of HPCL approves incorporation of wholly-owned subsidiary for consolidation of green business

New Delhi: Maharatna Oil PSU Hindustan Petroleum Corporation Limited (HPCL) said in a regulatory filing on Friday that the Board of Directors approved the incorporation of a Wholly-Owned Subsidiary (WOS) subject to the approvals from Competent Authorities for consolidation of all green and emerging business opportunities under one umbrella.

"The Board also considered the roadmap prepared for unlocking value in Lubricant Business and after detailed deliberations, accorded in-principle approval for exploring options including carving out to unlock value in the high growth high potential lubricant business subject to the approvals from Competent Authorities," the filing added.

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