The government had planned to sell its entire 52.98 per cent stake in Bharat Petroleum Corporation Ltd (BPCL) and invited Expression of Interest from bidders in March 2020.
The total dividend payout will be Rs 2,220.19 crore with a record date of March 22, the company said in a statement
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It added that the debentures are proposed to be listed on the debt market segment of both BSE and NSE.
DIPAM Secretary tweeted that the dividend is inclusive of special dividends acquired from the sale of its stake in Nulaigarh Refinery in March, this year.