The government has invited bids for the sale of its entire 52.98% stake in the Bharat Petroleum Corporation (BPCL) on March 07, 2020. The Government of India is proposing strategic disinvestment of its entire shareholding in BPCL comprising 114.91 crore equity shares, which constitutes 52.98 per cent of BPCL’s equity share capital, along with transfer of management control, to a strategic buyer (except BPCL’s equity shareholding of 61.65% in Numaligarh Refinery).
The government has appointed Deloitte Touche Tohmatsu India LLP as its transaction advisor to advise on and manage the strategic disinvestment process.
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.
