Financial bids for BPCL after September
With due diligence by potential buyers yet to be completed, financial bids for the government’s entire stake in the fuel retailer-cum-refiner BPCL are expected to come in after September. However, despite the delays, the government is hopeful that the strategic disinvestment worth over Rs 54,000 crore at the current market prices will go through during the current fiscal.
Initially, the department of investment and public asset management (Dipam) wanted to conclude the BPCL transaction by the June quarter. But the second wave of Covid delayed the processes. “The due diligence process is going on. It will take some more time,” a senior official said.
