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Govt rakes in Rs 6,665 cr dividend from BPCL for FY21

Govt rakes in Rs 6,665 cr dividend from BPCL for FY21

The amount received included the dividend on account of gains made, especially on sale of privatisation-bound BPCL's stake in Numaligarh Refinery in March 2021.

Govt rakes in Rs 6,665 cr dividend from BPCL Govt rakes in Rs 6,665 cr dividend from BPCL

The government has received a final dividend of Rs 6665 crore from Bharat Petroleum Corporation Limited (BPCL) for the Financial Year (FY) 2020-21, the Secretary Department of Investment and Public Asset Management (DIPAM) said on Wednesday.

Taking to Twitter, DIPAM Secretary Tuhin Kanta Pandey said the dividend included the amount gained on the sale of privatisation-bound BPCL's stake in Numaligarh Refinery in the month of March, 2021.

"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," Panday 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.

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