Monday, 20 February 2017

Stock Market; Bharat Petroleum Plans To Raise Rs 2,000 cr

State-run oil marketing company Bharat Petroleum Corporation Ltd (BPCL) said that it plans to raise up to Rs 2,000 crore through private placement of secured non-convertible debentures during the current financial year. The company informed the Bombay Stock Exchange (BSE) that last year its shareholders had approved "private placement of non-convertible bonds/debentures and/or other debt securities". "In exercise of the said delegated authority, BPCL is planning to raise up to Rs 2,000 crore during the current financial year through private placement of secured non-convertible debentures subject to market conditions," the company said in a regulatory filing.

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