Foreign investors allowed to raise their holdings in BPCL to up to 49 per cent

RBI has allowed foreign investors to raise their holdings in Bharat Petroleum Corporation Limited (BPCL) to up to 49 per cent. Foreign institutional investors and registered foreign portfolio investors can now invest in up to 49 per cent of the paid-up capital of BPCL under the Portfolio Investment Scheme. The purchases can be made through the primary market and stock exchanges. As of March 31, 2016, the promoter group held 54.93 per cent stake in BPCL, while public holding stood at 45.07 per cent.