IBP Co Ltd merges with IndianOil

New Delhi, May 2 (UNI) The Company Affairs Ministry today sanctioned the merger of IndianOil (IOC) with IBP Company Ltd.

This provides for a swap ratio of 110:100 which means 110 equity shares of Rs 10 each of IndianOil as fully paid for every 100 equity shares of Rs 10 each of IBP.

With this merger, IBP stands dissolved effective from today, the company said in a note to the BSE.

UNI