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BPCL could cost acquirer Rs 20K cr more as SEBI open offer exemption for IGL, PLL unlikely

The privatisation plan of public sector oil refiner Bharat Petroleum Corporation Ltd may get expensive for the investors as the new owners are unlikely to get regulatory exemption to participate in open offer of two other entities - Petronet LNG Ltd (PLL) and Indraprastha Gas Ltd (IGL).

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BPCL could cost acquirer Rs 20K cr more as SEBI open offer exemption for IGL, PLL unlikely

The privatisation plan of public sector oil refiner Bharat Petroleum Corporation Ltd may get expensive for the investors as the new owners are unlikely to get regulatory exemption to participate in open offer of two other entities - Petronet .

New delhiNatural gas corporationBharat petroleum corporation ltdExchange board of indiaIndraprastha gas ltdPsus indian oil corporationExchange boardIndian oil corporation

BPCL could cost acquirer Rs 20,000 crore more as SEBI open offer exemption for IGL, PLL unlikely

BPCL could cost acquirer Rs 20,000 crore more as SEBI open offer exemption for IGL, PLL unlikely
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New delhiNatural gas corporationBharat petroleum corporation ltdExchange board of indiaIndraprastha gas ltdPsus indian oil corporationExchange boardIndian oil corporation

BPCL could cost acquirer Rs 20K cr more

Sources privy to the development said that market regulator Securities and Exchange Board of India (SEBI) is not in favour of giving exemption to the BPCL from making open offer in the PLL and the IGL.

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Narendra Modi to Dedicate Four Projects Worth Rs 4700 Cr

Narendra Modi to Dedicate Four Projects Worth Rs 4700 Cr:- Indian Prime Minister Narendra Modi will dedicate four projects worth Rs 4700 crores in the fields of oil and gas at Haldia during his West Bengal visit on February 7th as per the official update. The projects are PSUs Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Gas Authority of India (GAIL) and NHAI. Gurmeet Singh, the director of IOC said that Narendra Modi will lay the foundation stone of second catalytic dewaxing unit at Haldia refinery of PSU which will be an important substitution project which will cost around Rs 1019 crores. The project is expected to complete by April 2023.

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