The board of BPCL will meet on Tuesday, 16 March 2021, to consider a proposal for declaration of the second interim dividend for the FY2021.Earlier this week, BPCL Trust for Investment in Shares (BPCL Trust) liquidated its treasury shares worth over Rs 5,500 crore in BPCL.
According to the bulk deal data on Tuesday, 9 March 2021, BPCL Trust sold 12,60,33,090 shares (5.81% equity) of BPCL at Rs 438.41 each for a total of Rs 5,525 crore.
Separately, ICICI Prudential Mutual Fund (ICICI Prudential Value Discovery Fund) picked up 1,38,84,962 shares (0.64% equity) at Rs 438.10 each, aggregating to Rs 608 crore. Both the transactions took place on the same day on the NSE.
Shares of Bharat Petroleum Corporation (BPCL) dipped 6 per cent to Rs 438 on the National Stock Exchange (NSE) in intra-day trade on Tuesday after BPCL Trust for Investment in Shares (BPCL Trust) sold up to 7 per cent of its stake in state-owned energy company through a block deal. Till 09:21 am, around 153.66 million equity shares, representing 7.08 per cent of total equity, of BPCL had changed hands on the NSE. On the BSE, around 7.5 million equity shares or 0.34 per cent equity of the state-owned company had changed hands, the exchange data shows. The names of the buyers were not ascertained immediately. On Monday, BPCL informed the stock exchanges that, a sub-committee of the board of directors of the company has approved the sale of BPCL equity shares which are held by the BPCL Trust for Investment in shares through accelerated book built offering of equity shares on the screen-based trading platform of the stock exchanges.
BPCL Trust sells shares worth ₹5,524 cr
March 09, 2021
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BPCL Trust on Tuesday sold 12.60 crore shares in open market through a bulk deal on the NSE at an average price of ₹438.41, valuing the deal size at ₹5,523.97 crore. As the deal was done at a much lower to the Monday s closing price, the stock crashed to a low of ₹437.75 on the NSE, but recovered slightly to close at ₹445.90, still down 4.46 per cent from the previous day s close of ₹466.70.
Earlier, a sub-committee of the board of directors of BPCL had approved the sale of 15.90 crore shares held by BPCL Trust for Investment in Shares.