PSUs in fresh bidding for BPCL
The government is exploring various options in the BPCL stake sale exercise if no financial bids are received or if these are lower than the price that the government expects. Such a situation has arisen in the wake of energy giants staying clear of the BPCL bidding.
Metals and minerals major Vedanta on Wednesday confirmed it has bid for the entire government stake of 52.98 per cent in BPCL. Others believed to have put in bids include two to three private equity funds and pension funds.
“Vedanta’s EoI for BPCL is to evaluate potential synergies with our existing oil and gas business. The EoI is at a preliminary stage and exploratory in nature,” a company spokesperson said in a statement.
