State-owned Bharat Petroleum Corporation Ltd (BPCL) has discontinued all activities associated with the disinvestment of the company after the government dropped plans to privatise the firm for now.
In a stock exchange filing, the company said the government has through a letter dated June 3, 2022, called off the present tender to sell its entire 53 per cent stake in the company.
“Accordingly, all the activities in connection with the disinvestment including the data room are being discontinued,” the firm said.
The move by the central government to call off the expression of interest (EoI) followed two out of the three bidders walking out.
