Oil India Limited transfers 2.28cr shares in Numaligarh refinery to Assam govt

Oil India Limited said that it has transferred around 2.28 crores of equity shares of Numaligarh Refinery Limited (NRL) to the Assam government for INR 217.75 per share or a total of INR 4.96 billion ($68 million).

Following the transfer of the shares, Oil India Limited has reduced its equity shareholding in the Numaligarh oil refinery in Assam from 80.16% to 77.06%.

Recently, Bharat Petroleum Corporation Limited (BPCL) had divested its stake of 61.65% in the oil refinery to Engineers India Limited and Oil India Limited.