BPCL privatization likely to be completed by March 2022
MUMBAI : State-run Bharat Petroleum Corp. Ltd (BPCL) is looking to complete its privatization process this financial year, if all goes well and covid-19 pandemic does not push the process back, said a top company official.
The government, which holds a 52.98% stake in BPCL, is in the process of divesting its holdings, as part of its plan to raise a record ₹1.75 trillion from disinvestment proceeds in FY22.
On 10 April, the government had given access to BPCL’s data to prospective bidders.
So far, mining-to-oil conglomerate Vedanta and private equity firms Apollo Global and I Squared Capital’s arm Think Gas are in the race to buy the government’s stake in BPCL.
