Targeting to conclude BPCL strategic sale by June: DIPAM Secretary
New Delhi: The government is targeting to conclude the strategic sale of BPCL NSE -0.39 % in the June quarter, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Thursday. “I think we are targeting the first quarter (of 2021-22 fiscal). The engagement is intense now, it is at the due diligence stage. Our process is of value maximisation, and we have to take all precautions to see the value is maximised,” Pandey said at an event organised by Aditya Birla Sun Life Mutual Fund.
The government has received three preliminary bids for buying of controlling stake in India’s second-largest fuel retailer Bharat Petroleum Corp Ltd (BPCL).
