MUMBAI : State-run Bharat Petroleum Corporation Ltd (BPCL), which is bound for privatization, has no intention to sell its stakes in either Indraprastha Gas (IGL) or Petronet LNG Ltd (PLL), a company official said on Thursday.
BPCL holds a 12.5% share in liquefied natural gas importer PLL, and a 22.5% stake in Delhi-based city gas distributor IGL. BPCL is a co-promoter of both companies, and holds board positions in them.
“We have no intention to pare our stake in either IGL or PLL. There would be a need for an open offer in line with Securities and Exchange Board of India regulations.
