Government extends deadline for BPCL bids to June 13 due to Covid-19 outbreak

NEW DELHI: The Centre has extended the date of bidding for divesting its 52.98 per cent share in Bharat Petroleum Corp Ltd (BPCL) by over a month to June 13, keeping in view the lockdown imposed due to the Covid-19. It has announced the strategic disinvestment of its entire shareholding in BPCL comprising of 114.91 crore equity shares, along with transfer of management control to a strategic buyer.

Earlier this month, the government had invited expression of interest (EoI), in buying its stake, by May 2. This now has been extended to 5 pm on June 13 in “view of the requests received from the interested bidders and the prevailing situation arising out of COVID-19”, a notification said. The last date for submission of written queries has also been pushed to May 16 from the earlier deadline of April 4. The divestment had exempted Numaligarh Refinery Limited.