The company issued 93,561 unsecured, listed, rated, non-cumulative, redeemable, non-convertible, taxable debentures having a face value of Rs 1 lakh each on a private placement basis.
Names of the investors have not been disclosed.
The NCDs will carry a coupon rate of 7.58 percent and will be payable annually. They will also be listed on the debt market segment of the BSE and NSE.
Non-convertible Debentures (NCDs) are tools used in raising investments and ones that cannot be converted into equity. Interest rates of such instruments vary from company-to-company.
In case of default in payment of interest and/or redemption amount on due dates, the company shall pay additional interest of two percent per annum over the interest rate payable on the NCDs, on such amounts due, for the defaulting period, the company revealed in its exchange filing.
Last month, the company had announced that it plans on raising Rs 1,500 crore in the current financial year through the issue of NCDs.
The prices of petrol and diesel have not been increased by public sector fuel retailers since April 6, 2022, despite record high international prices, the Centre said, and pointed out that the three public sector OMCs — IOCL, BPCL and HPCL — have booked a combined loss of Rs. 18,622 crore during the April to December 2022 period.
Shares of BPCL are up 5.3 percent so far this year, after underperforming in 2022.
