Govt expects Rs 80,000 crore from BPCL divestment
The Central government is expecting the divestment of state-owned refiner Bharat Petroleum Corporation Ltd (BPCL) to net the exchequer over Rs 80,000 crore, based on a valuation at a significant premium to current prices, according to sources.
The government has received expressions of interest for the refiner from Vedanta Ltd and two global private equity funds. The sale of the government’s 52.98 per cent stake in BPCL is a key part of the government’s Rs 1.75 lakh crore disinvestment target for this fiscal.
“We are expecting a price of at least Rs 700-750 per share including a control premium given that the share price has previously reached close to Rs 540,” said an official aware of developments.
