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BPCL allots non-convertible debentures worth ₹936 cr, offers 7.58% interest rate


Government-owned BPCL on Saturday said it has allotted non-convertible debentures (NCDs) worth 935.61 crore on a private placement to identified investors. The interest rate for these debentures is 7.58% which is payable annually.

The allotment was done on March 17th.

As per the regulatory filing, BPCL allotted 93,561 unsecured, listed, rated, non-cumulative, redeemable, non-convertible, taxable, debentures (NCDs) for a face value of 1 lakh each at par aggregating to a total size of 935.61 crore.

The NCDs were issued on a private placement basis to identified investors at the interest rate of 7.58% per annum payable annually.

BPCL said, the first interest payment will be on March 17, 2024, and then on March 17, 2025, and the final interest payment will be made on March 17, 2026.

These NCDs will be listed on the debt market segment of BSE Limited and the National Stock Exchange of India Limited.

The tenure for the NCDs is 3 years and will mature on March 17, 2026. On the maturity date, the company will do bullet repayment.

On Friday, the company appointed G. Krishnakumar as the Chairman and Managing Director of the company with effect from March 17th. He is currently serving as the Executive Director at BPCL.

Gopalan was at the core of BPCL’s pioneering work in revolutionising the downstream fuel retailing industry in the country, leading the organisation’s customer-centric forays in convenience retailing, and premium fuels, in a way heralding the digital age of BPCL at the turn of the century using Customer Relationship Management (CRM) and Loyalty, a first in the Indian oil Industry.

On BSE, BPCL’s share price ended at 351.45 apiece broadly flat but in green compared to the previous closing of 350.90 apiece. The company’s market cap stood at 76,238 crore.

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