The board of Bharat Petroleum Corporation Limited on Wednesday approved the proposal for raising capital up to Rs 18,000 crore, the company announced through an exchange filing. The capital will be raised through issue of equity shares on rights issue basis to eligible equity shareholders of the Corporation.
The fundraising will be subject to all statutory approvals and in accordance with all applicable laws including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended from time to time.
BPCL raise funds through NCDs
The company in March had announced raising Rs 935 crore through issue of non-convertible debentures to eligible investors.
BPCL to shut half of Mumbai refinery
Earlier this week a company spokesperson while talking to Reuters said that Bharat Petroleum has plans to shut down half of its crude processing capacity at its 2,40,000 barrel-per-day Mumbai refinery for a month for maintenance from September 21. The refinery may also be shut for 15 days from mid-August.
The shares of BPCL on Wednesday closed at Rs 365.85, up by 2.11 per cent.