Government receives Rs 6,665 crore dividend from BPCL for FY21

The government has received a final dividend of Rs 6,665 crore from privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) for the 2020-21 fiscal, DIPAM Secretary said on Wednesday.

“Govt received final dividend of Rs 6,665 crore from BPCL for the FY 2020-21. This includes special dividend on account of gains especially on sale of BPCL’s stake in Numaligarh Refinery in March 2021,” DIPAM Secretary Tuhin Kanta Pandey tweeted.

In March, BPCL had sold its entire 61.5 per cent stake in Numaligarh Refinery in Assam to a consortium of Oil India Ltd and Engineers India and the Assam government for Rs 9,876 crore.

The government is selling its entire 52.98 per cent stake in BPCL.

Vedanta Group and private equity firms Apollo Global and I Squared Capital’s India unit Think Gas have put in an expression of interest for buying the government’s stake.

The government has already indicated that it expects to complete BPCL privatisation in the current fiscal. The sale is key to achieving the Rs 1.75 lakh crore disinvestment target set for 2021-22.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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