The Centre has again extended the deadline for submission of Expressions of Interest (EoI) for the strategic sale of Bharat Petroleum Corp Ltd (BPCL), till November 16. This is due to the Covid-19 pandemic and the resultant lockdown.
The government had first invited bids with a deadline till May 2nd this year, which was further extended three times in the past.
The official notification from Department of Investment and Public Asset Management (DIPAM), attributed the decision to requests received from interested bidders, along with the situation arising out of the pandemic.
The disinvestment in BPCL involves the government selling its entire 52.98 per cent stake in the company to a strategic investor with transfer of management control. The government has barred PSUs from bidding for BPCL and expects private sector Indian players and global MNCs to bid for its stake. The government’s stake in BPCL is worth around Rs 50,000 crore.
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