India-based bank ICICI and India-based mortgage lending company HDFC have sold their stakes in local oil and gas exploration company Prize Petroleum for an undisclosed sum to fellow shareholder Hindustan Petroleum Corporation.
Hindustan Petroleum bought 100% of the company on Tuesday, according to news provider VCCircle.
ICICI backed the company through both its bank parent, with a 35% stake and its corporate venturing unit ICICI Venture, with a 10% stake. HDFC owned 5%.
The company was established in 1998 with the backing of the three Indian companies.