The stake sale of Haldia Petrochemicals Ltd (HPL) is likely to be delayed further with bidders raising the concern over the share purchase agreement prepared by West Bengal government and its transaction advisor Deloitte India.
A meeting is scheduled to take place soon between the West Bengal government and the five bidders to sort the issues. At present, Reliance Industries Ltd (RIL), Cairn India, IOC, GAIL and ONGC are in the hunt for state government’s about 40% stake in HPL.
FOR COMPLETE REPORT READ: HPL stake sale set to be delayed