BPCL privatisation: Govt rules on worker protection, asset stripping later

The government will provide guidance on employee protection, asset stripping and business continuity in Bharat Petroleum Corp Ltd (BPCL) to potential acquirers of the company only at a later stage of bidding, according to privatisation rules issued by the disinvestment department.

The government is selling its entire 52.98 per cent stake in India's second-largest fuel retailer and third-biggest oil refiner.

Preliminary expressions of interest or EoIs are due on September 30, which will be followed by qualified bidders being asked to submit financial or price bids.

The Department of Investment and Public Asset Management (DIPAM), erstwhile known as Department of