ICICI Securities Ltd | Retail Equity Research ONGC has officially announced the acquisition of government's 51.1% stake in HPCL at a price of | 474 per share. The total outgo on the part of ONGC will be | 36915 crore The transfer of shares will be on cash basis with no open offer to minority shareholders as there is no change in ownership. ONGC will use a combination of cash and debt and the company also has the approvals to sell its stake in IOC and GAIL to fund the acquisition. In our opinion, the acquisition will be mainly through...