New Delhi [India], August 11 (ANI): The government plans to complete privatisation of Air India and Bharat Petroleum Corporation Ltd (BPCL) this year, Tuhin Kant Pandey, Secretary at the Department of Investment and Public Asset Management (DIPAM) said on Wednesday.
Govt Considering Options To Further Sweeten BPCL Privatisation Deal: Report swarajyamag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swarajyamag.com Daily Mail and Mail on Sunday newspapers.
Bharat Petroleum Corporation Ltd to sell stake for Rs 9,876 crore
The privatisation-bound BPCL added that it will sell its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876 crore.
| 2 March 2021 2:22 AM GMT
NEW DELHI: The Bharat Petroleum Corporation Ltd (BPCL) on Monday said that it will exit Numaligarh Refinery in Assam. The privatisation-bound BPCL added that it will sell its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876 crore.
With this sale of the Numaligarh Refinery Ltd, the way has been cleared for privatisation of India s second-largest fuel retailer.
Oil India led consortium to bid for acquiring BPCL s stake in Numaligarh Refinery ANI | Updated: Feb 19, 2021 11:33 IST
The bid is to be submitted through a formal process. The exact percentage of the stake of OIL and ElL will depend on the extent of right of first offer to be exercised by the state government of Assam which holds 12.35 per cent stake in NRL.
Last year, the Assam government had given a no-objection certificate to the NRL deal on condition that another 13.65 per cent stake in NRL will be sold to the state. This will increase the state government s stake in the company to 26 per cent.