Indian Oil to Infuse Rs 1000 Crore in Chennai Petroleum

New Delhi: State-owned Indian Oil Corp (IOC) will invest Rs 1,000 crore for raising its stake in Chennai Petroleum Corporation Ltd (CPCL), which will use the money for expanding operations. The Board of CPCL on Saturday decided to increase the authorised share capital of the company from Rs 400 crore (40 crore shares of Rs 10 each) to Rs 1,400 crore, the company said in a stock exchange filing. The increased share capital would be ...