Oil India shares opened with a gain of 2.55% today at Rs 124.90 against the last close of Rs 121.80. Later, the stock touched an intraday high of Rs 126.8, rising 4.11% on BSE
Oil India led consortium to bid for acquiring BPCL s stake in Numaligarh Refinery ANI | Updated: Feb 19, 2021 11:33 IST
The bid is to be submitted through a formal process. The exact percentage of the stake of OIL and ElL will depend on the extent of right of first offer to be exercised by the state government of Assam which holds 12.35 per cent stake in NRL.
Last year, the Assam government had given a no-objection certificate to the NRL deal on condition that another 13.65 per cent stake in NRL will be sold to the state. This will increase the state government s stake in the company to 26 per cent.
Read more about Oil India led consortium to bid for BPCL s stake in Numaligarh Refinery on Business Standard. As part of a larger plan for disinvestment of Public Sector Undertakings, the government wants to privatise downstream oil refiner BPCL by the end of the first half of next financial year (2021-22)
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