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Centre may get part of Numaligarh Refinery sale proceeds through special dividend
March 03, 2021
BPCL privatisation expected to be completed by July-Sept quarter of FY 22 Over 3.73 lakh shareholders of Bharat Petroleum Corporation Ltd (BPCL) may get special dividend from the sales proceed of its subsidiary Numaligarh Refinery Limited (NRL). The company has called Extraordinary General Meeting on March 25 to formally approve disinvestment of the entire equity shares (61.65 per cent) held in NRL and expectations are that special dividend could be announced by that time.
The Central Government is the largest shareholder with around 53 per cent holdings. The total sales proceed from the sale of NRL is estimated at around ₹ 9,876 crore and after deduction of tax, net proceed could be around ₹ 9,000 crore.