BPCL privatisation: Initial bids close today, all eyes now on Reliance

Given the uncertain demand scenario, the investors are weighing if BPCL acquisition makes sense

Initial bids for privatisation of Bharat Petroleum Corp Ltd (BPCL) will close on Monday amid indications of supermajors UK's BP Plc, Total of France and Saudi Aramco unlikely to bid.

The government, which is selling its entire 52.98 per cent stake in India's second largest oil refining and marketing company, had on four occasions extended the date of putting in the preliminary expression of interest (EoI). The current deadline is November 16.

Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey had last month told PTI that there would be no further extension.

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