“State-owned Bharat Petroleum Corporation (BPCL) is likely to sell up to 8.68 crore shares, or 4 per cent of the company equity, through a block deal… The company, according to bankers, has set a floor price of Rs 435 per share, a 6.8 per cent discount to Monday’s closing price of Rs 467.”, reported Economic Times.

Cyril Amarchand Mangaldas advised Citigroup Global Markets India led by its transaction team of partner Gokul Rajan, with support from designate principal associate Aashima Johur.

Khaitan & Co acted as the Indian legal counsel to Bharat Petroleum Corporation in the transaction, while Ashurst acted as the international legal counsel to GCBRLM and BRLMs.

2021-03-08

Deal value: INR 3774.5 crores (USD $514.7 Million)

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