Govt invites bids for BPCL’s privatisation, bars state entities from the process
NEW DELHI: The Indian government on Saturday invited initial bids for sale of its entire 52.98% cent stake in Bharat Petroleum Corp Ltd (BPCL).
The last date for submission of expressions of interest is 2 May and interested parties must have a minimum net worth of $10 billion, according to the bid document issued by the Department of Investment and Public Asset Management.
“CPSEs and central government owned cooperative societies–where the government ownership is 51% or more–are not eligible to participate in the proposed transaction,” the bid document said.
