The govt decided to call off BPCL’s disinvestment last month after interested parties could not continue due to prevailing conditions in global energy markets and the pandemic. It said the decision to reinitiate the process would be taken after reviewing the situation
The financial bids have not yet been called, and we have just three months left. Given BPCL’s borrowings, it will need approval from lenders (long-term agreements have a clause that requires lenders’ approval for promoter changes), which would take a few months, said an officials, who is tracking the sale