BPCL plans to raise Rs 2,000 crore

Mumbai: State-run oil marketing company Bharat Petroleum Corporation Ltd (BPCL) on Friday 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.

"The debentures are proposed to be listed in debt market segment of the BSE and the National Stock Exchange of India Ltd (NSE)."

"The details of the issue viz, class of investors, issue price, tenor, interest rate, etc, will depend on the market conditions which will be intimated on crystallisation of the issue."