SBI Capital to arrange ₹15,000 crore debt for Numaligarh refinery expansion
MUMBAI: Numaligarh Refinery Ltd (NRL), a subsidiary of the state-owned Bharat Petroleum Corporation Ltd (BPCL), has appointed SBI Capital Markets for debt syndication of ₹15,102 crore for capacity expansion.
BPCL holds 61.65% stake in NRL, while Oil India holds 26% and the Assam government owns 12.35% in the refinery.
However, as part of its strategy to divest stake in BPCL, the government last November decided to carve out NRL from BPCL. Oil India Ltd and Engineers India Ltd-led consortium have agreed to buy 48% stake in NRL.
