Oil India-led consortium to bid for BPCL stake in NRL

19 Feb 2021 Evaluate

Oil India (OIL) in consortium with Engineers India (EIL) has decided to bid for acquiring 61.65 percent stake of Bharat Petroleum Corporation (BPCL) in Numaligarh Refinery (NRL). The bid is to be submitted through a formal process.

The exact percentage of the stake of OIL and EIL will depend on the extent of Right of First Offer (ROFO) to be exercised by the Government of Assam, which already holds12.35 per cent stake in NRL. The acquisition is expected to improve the synergy in OIL's portfolio.

Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.

Oil India Share Price

600.10 0.70 (0.12%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
ONGC 267.85
Oil India 600.10
Jindal Drilling&Inds 613.25
Hind Oil Exploration 178.85
Deep Industries 308.45
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.