Bharat Petroleum Corporation (BPCL) said that it has planned to raise upto Rs 1,500 crore unsecured non-convertible debentures (NCDs) through private placement, subject to market conditions.
The said debentures are proposed to be listed on Debt Market segment of BSE and national stock exchange. The details of the issue viz., class of investors, issue price, tenor, interest rate etc. will depend on the market conditions which will be intimated on crystallization of the issue.BPCL is the second largest Indian oil marketing company, engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted 'Maharatna' status, joining the elite club of companies having greater operational & financial autonomy. The Government of India holds 52.98% stake in BPCL as of 31 December 2022.
The company reported 31% fall in standalone net profit to Rs 1,959.58 crore in Q3 FY23 from Rs 2,828.45 crore in Q3 FY23. Net revenue from operations was Rs 1,19,158.10 crore, up 25% YoY.
The scrip declined 1.72% to settle at Rs 326 on the BSE.
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