State-owned IOC, GAIL and ONGC may buy shares of Petronet LNG and Indraprastha Gas in the eventuality of an open offer getting triggered post privatisation of Bharat Petroleum Corporation Ltd (BPCL), sources said.
BPCL holds 12.5 per cent of the shareholding in India’s largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions.