BPCL bid evaluation meet on Tuesday; Vedanta, Apollo Global, I Squared Capital arm in race

A high-powered committee will on Tuesday evaluate preliminary bids received from mining-to-oil conglomerate Vedanta and private equity firms Apollo Global and I Squared Capital’s arm Think Gas for buying the government’s 52.98 per cent stake in BPCL, sources said.

Last week, an inter-ministerial meet was held to discuss the BPCL valuation process and setting of the reserve price.
On Tuesday, the panel will see transaction advisor Deloitte’s report on the scrutiny of the three bids that were received at the close of bidding last month, sources in know of the development said.