NRL sale won't help BPCL valuation; proceeds to go as special dividend

The stake sale of Numaligarh Refinery (NRL) to a consortium headed by Oil India (OIL) will pave the way for the disinvestment of Bharat Petroleum Corporation (BPCL). But it will not affect the valuation the Centre is hoping to achieve with the privatisation of the Maharatna public sector undertaking. “The decision of the Government of India was that BPCL will be sold without NRL. I do not think that the valuation of NRL is going to impact the valuation of BPCL in any way,” Vijayagopal N, director (finance) at BPCL, told Business Standard. “Given the way we have done the.....

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