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BPCL Trust to sell its 4% stake through block deal on Tuesday

MUMBAI: State-owned Bharat Petroleum Company (BPCL) is more likely to promote as much as 8.68 crore shares, or Four per cent of the corporate fairness, via a block deal on Tuesday. The corporate, in keeping with bankers, has set a flooring worth of Rs 435 per share, a 6.Eight per cent low cost to Monday’s closing worth of Rs 467. These shares are held by the Belief for Funding in Shares.

On Monday, a sub-committee of the board of administrators of BPCL authorised the sale of BPCL fairness shares that are held by the belief via accelerated e book constructed providing of fairness shares on the screen-based buying and selling platform of inventory exchanges. The corporate is meant to promote as much as 7.33 per cent stake or 15.90 crore shares.

BPCL Belief for Funding in Shares held 9.33 per cent stake within the firm as on 30 September 2020. In October, 4.33 crore shares, or about 2 per cent, was transferred to its worker profit belief known as BPCL ESPS Belief.

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