No change in IPCL's management

The BSE was informed that after the amalgamation there will be no change in the management control of the 'transferee company.'

Mukesh Ambani Group-controlled Indian Petrochemicals Corporation Ltd said on Friday that there would be no change in its management control post amalgamation of its subsidiaries with itself.

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The petrochemical major informed the Bombay Stock Exchange that after the amalgamation there will be no change in the management control of the 'transferee company.'

Earlier, the company had approved the merger of Apollo Fibres Ltd, Central India Polyester Ltd, India Polyfibres Ltd, Orissa Polyfibres Ltd, Recron Synthetics Ltd and Silvassa Industries Pvt Ltd with itself.

The company's shares were trading at Rs 248, up 3.85 per cent on the BSE.