Govt invites bids for sale of BPCL

The Government has invited ‘Expression of Interest (EoI)’ for selling its entire stake in oil marketing company Bharat Petroleum Corporation Limited (BPCL).

According to latest shareholding pattern, Government holds 52.98 per cent (over 114.91 crore shares). The Government intends to disinvest this holding along with transfer of management control to a strategic buyer. However, this does not include BPCL’s equity shareholding of 61.65 per cent in Numaligarh Refinery Limited (NRL) and management control thereon. The shareholding of BPCL in NRL will be transferred to a Central Public Sector Enterprise (CPSE) operating in the Oil & Gas sector.