With interest already high, govt should make most of BPCL sale
The government has appointed Deloitte Touche Tohmatsu Ltd as the adviser for the strategic sale of Bharat Petroleum Corp. Ltd (BPCL), according to a news report last week. The sale of its 53% stake in BPCL remains crucial for the government to meet the divestment target of ₹1.05 trillion for FY20. At the current price of ₹511.45, the stake sale can fetch about ₹59,000 crore.
However, the government said BPCL’s 61.6% stake in Numaligarh Refinery Ltd (NRL) will be transferred to a public sector oil company, and will not be part of the deal. Even so, there are high expectations from the stake sale.
