BPCL to pay shareholders from Rs 9,876 crore Numaligarh Refinery stake sale
Privatisation-bound Bharat Petroleum Corporation Ltd NSE -0.16 % (BPCL) may use Rs 9,876 crore proceed from stake sale in Numaligarh Refinery to pay a special dividend to shareholders, the biggest being Government of India, BPCL director (finance) N Vijayagopal said on Tuesday. The Board of BPCL on Monday approved the sale of the company’s 61.65 per cent stake in Numaligarh Refinery Ltd (NRL) to a consortium of state-owned Oil India, consultancy firm Engineers India Ltd (EIL) and Government of Assam for Rs 9,875.96 crore.
The offer by the OIL-led consortium was “above the reserve price we had set for the stake sale,” he told reporters.
