Strategic sale: Financial bids for Air India, BPCL likely to be delayed by 3 months to September

With the second wave of Covid hampering movement of executives of bidders, the asset evaluation of the two large CPSEs on the block – BPCL and Air India – is being delayed. This has increased the chances of the due-diligence process getting extended, and according to official sources, financial bids for the two firms is likely to be delayed by three months to September.

The government is, however, still confident that both the transactions would be completed in the current fiscal.