BPCL spurts on inking agreement to acquire 21% stake in FINO Pay Tech for Rs 251 crore

Bharat Petroleum Corporation Ltd. | Refineries | Oil & Gas | BSE: 500547 | NSE: BPCL

01 Aug 2016 Evaluate

Bharat Petroleum Corporation is currently trading at Rs 596.10, up by 3.55 points or 0.60% from its previous closing of Rs 592.55 on the BSE.

The scrip opened at Rs 604.00 and has touched a high and low of Rs 604.00 and Rs 593.55 respectively. So far 45897 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 604.00 on 01-Aug-2016 and a 52 week low of Rs. 366.10 on 23-Feb-2016.

Last one week high and low of the scrip stood at Rs 604.00 and Rs 575.50 respectively. The current market cap of the company is Rs 86241.49 crore.

The promoters holding in the company stood at 54.93%, while Institutions and Non-Institutions held 30.55% and 14.52% respectively.

Bharat Petroleum Corporation (BPCL) has entered into an agreement for acquiring a 21% stake (on a fully diluted basis) in the share capital of FINO Pay Tech for a consideration of Rs 251 crore in an all cash deal. The definitive agreements to this effect were signed on July 29, 2016 and the transaction is expected to be completed by December 31, 2016.

FINO Pay Tech is one of the entities to have been granted an in principle approval by the Reserve Bank of India (RBI) for setting up a Payments Bank. FINO Pay Tech is a payments technology solutions provider to banks, financial institutions and MFIs.

BPCL plans to leverage its marketing network to participate in the financial inclusion initiative in the country. This partnership coupled with the ultimate launch of the Payments Bank by Fino Pay Tech will offer an excellent platform for providing customized offerings to different segments of customers and thereby drive the business of fuel and non-fuel offerings.

BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.

BPCL Share Price

301.80 1.35 (0.45%)

04-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Reliance Industries	1462.95
Indian Oil Corp.	142.30
BPCL	301.80
HPCL	373.85
MRPL	159.50
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