BPCL sets up virtual data room to allow bidders carry out diligence

A virtual data room has been readied to help bidders undertake due diligence before making financial bids for the government’s stake in Bharat Petroleum (BPCL NSE 2.45 %), as per people familiar with the matter.

Data room is a place with confidential information and data about a target company that buyers must access to get a sense of the business’s worth ahead of an M&A transaction. Traditionally a well-guarded physical location, the data room has now begun shifting to clouds.