Outcome of board meeting of Bharat Petroleum Corporation

Held on 11 April 2016

Bharat Petroleum Corporation announced that the Board of Directors of the Company at its meeting held on 11 April 2016, have approved the proposal to seek Shareholders' consent by way of Postal Ballot for increasing the ceiling of Investment by Foreign Institutional Investors in the shareholding of the BPCL from 24% up to 49% in one or more tranches subject to regulatory authorities approval.

Relevant cut off date is fixed as 18 April 2016 for determining voting rights / eligibility of shareholders to whom Postal Ballot notice will be sent.

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