New Delhi, Jan 31 (UNI) Bharat Petroleum Corporation Ltd (BPCL) today said its board has approved a proposal for subscribing to the proposed IPO of Bharat Oman Refineries Ltd (BORL).
BORL is a joint venture company of BPCL with Oman Oil Company Ltd wherein 50 per cent shares are presently held by each Company, said a statement.
This is within the overall investment ceiling of 48 per cent of the total equity share capital of post IPO as and when BORL proposes an IPO.
The total investment including the investment already made by BPCL will not exceed Rs 1,996 crore.
UNI PBB PDT ND1826