Bharat Petroleum sell-off: Why bidding has been low profile
The disinvestment process of Bharat Petroleum Corporation Ltd has moved on to the second phase, with the government having received “multiple” expressions of interest for its 52.98% stake in the country’s second largest fuel retailer. We examine the state of the disinvestment process of BPCL, which is a key component of the government’s plans to raise Rs 2.1 lakh crore through disinvestment this fiscal.
Who are the interested parties?
Currently, only the Vedanta Group has been confirmed as an interested party. Industry sources however have stated that two private funds have also submitted Expressions of Interest (EoI) for BPCL. Global oil majors British Petroleum, Total, Rosneft, ADNOC and Saudi ARAMCO, who were said to be interested in investing, have not submitted EoIs.
