Mercator Ltd has informed the BSE that its wholly owned Indian subsidiary Mercator Petroleum Ltd (MPL) has allotted 1.49 lakh shares of Rs 10 each for cash at par on preferential basis to the company and its overseas subsidiary Mercator Energy Pte. Ltd. (MEPL), Singapore.

Consequently, the company’s shareholding in MPL now stands at 51 per cent and that of MEPL at 49 per cent.

Shares of Mercator opened a tad higher at Rs 36 on the BSE.