ONGC and HPCL may sell a part of their stake in Mangalore Refinery and Petrochemicals Ltd (MRPL) to comply with regulations on minimum public holding. Public shareholding in the Mangalore-based refineris currently just 11.42 per cent, not even half of the mandatory 25 per cent public float required by SEBI for listed companies. PSUs have been asked by SEBI to comply with the public shareholding requirement by August next year.
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