The Modi government seems to be working on a tight timeline for the strategic sale of BPCL, with a high-level interministerial body, called Alternative Mechanism, led by home minister Amit Shah, expected to meet in the coming days to discuss the expression of interest for the sale.
Sources have said the EoI could be issued before the end of this month after it is cleared by the ministerial panel, which comprises finance minister Nirmala Sitharaman and oil minister Dharmendra Pradhan, among others.
The government has already organised investor road shows in London, Singapore and the US in December, receiving a positive response. Some investors expressed concern on the combined sale of the refining and fuel retailing businesses.
