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Government gets Rs 6,665 crore dividend from Bpcl for Fy21

The government received a final dividend of Rs 6,665 crore from Bharat Petroleum Corporation Ltd (BPCL) linked to the privatization for the fiscal year 2020-2021, the secretary of DIPAM said on Wednesday. “The government received a final dividend of Rs 6,665 crore from BPCL for fiscal year 2020-21. This includes a special dividend due to the gains in particular on the sale of BPCL’s stake in the Numaligarh refinery in March 2021 DIPAM Secretary Tuhin Kanta Pandey tweeted.

In March, BPCL sold its entire 61.5% stake in the Numaligarh refinery in Assam to a consortium of Oil India Ltd and Engineers India and the government of Assam for Rs 9,876 crore. The government sells its entire 52.98% stake in BPCL.
Vedanta Group and private equity firms Apollo Global and Think Gas, the Indian unit of I Squared Capital, have expressed interest in purchasing the government’s stake. The government has already indicated that it plans to complete the privatization of BPCL in the current fiscal year. The sale is essential to achieve the divestment target of Rs 1.75 lakh crore set for 2021-2022.

First publication: STI



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