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Govt to invite preliminary bids for stake sale in BPCL next month

21 Dec 2019 Evaluate

The government is likely to invite preliminary bids for stake sale in Bharat Petroleum Corporation (BPCL) next month.  The stake sale in big assets like BPCL will take time as due diligence has to be carried out. Earlier, the Cabinet had approved a strategic divestment of the government’s 53.29 per cent stake in the company, along with transfer of certain management control. This is excluding BPCL’s equity share holding of 61 percent stake in Numaligarh Refinery.

BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.

Peers
Company Name CMP
Reliance Industries 1219.00
Indian Oil Corpn. 131.45
Bharat PetroleumCorp 300.00
HPCL 350.65
MRPL 174.60
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