BPCL to sell 61.65% in Numaligarh refinery for ₹9,875 crore
Ahead of its privatization, Bharat Petroleum Corporation (BPCL) board on Monday approved sale of its 61.65% stake in Numaligarh refinery for ₹9,875 crore, the company said in a regulatory filing.
The consortium of OIL and Engineers India Ltd will acquire 49% and the rest 13.65% will be sold to the government of Assam, director (Finance) N Vijayagopal had said last month.
The sale of NRL is considered to be the first step towards disinvestment of BPCL. The sale of BPCL is key in achieving government’s ₹1.75 lakh crore disinvestment target set for the upcoming financial year.
