NEW DELHI: After months of pause, the BPCL disinvestment process finally got going with \u201cmultiple\u201d players evincing interest in acquiring the government\u2019s 53% stake in the oil marketing company.
\nWhile the names of the companies that have submitted expression of interests (EoIs) were not disclosed, sources told TOI that three-four players were in the zone of contention, although Mukesh Ambani\u2019s Reliance Industries, and global majors such as Saudi Aramco, BP, Total, ExxonMobil and Rosneft stayed away. \u201cWe have completed the first round, now the technical advisor (Deloitte) will evaluate the proposals and eligible players over the next two weeks or so,\u201d department of investment and public asset management (Dipam) secretary Tuhin Kanta Pandey told TOI.
\nBased on current market price, the government can hope to mop up over Rs 43,700 crore if the transaction goes through. The successful bidder will also have to spend about Rs 23,276 crore to make an open offer for buying another 26% stake from the public.
\nBPCL may turn out to be the first privatisation under the watch of the Narendra Modi government since it came to power over six years ago. <\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: After months of pause, the BPCL disinvestment process finally got going with \u201cmultiple\u201d players evincing interest in acquiring the government\u2019s 53% stake in the oil marketing company. While the names of the companies that have submitted expression of interests (EoIs) were not disclosed, sources told TOI that three-four players were in the zone of contention, although Mukesh Ambani\u2019s Reliance Industries, and global majors such as Saudi Aramco, BP, Total, ExxonMobil and Rosneft stayed away. \u201cWe have completed the first round, now the technical advisor (Deloitte) will evaluate the proposals and eligible players over the next two weeks or […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-384411","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/384411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=384411"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/384411\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=384411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=384411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=384411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}