BPCL stake sale: Deloitte quotes Re 1 as its disinvestment advisory fee

The government has set a 50-day timeline for asset valuation to happen in BPCL, as it wants to complete the process before March 31, 2020

In the country’s largest strategic disinvestment, the transaction advisor is taking a mere Rs 1 for its services.

Deloitte Touche Tohmatsu India has quoted Rs 1 to manage the sale of Bharat Petroleum Corporation (BPCL), which is likely to fetch the government Rs 70,000-80,000 crore.

According to three persons in the know, SBI Caps was the second-lowest bidder with a quote in the range of Rs 15-17 crore. Both Deloitte and SBI Caps did not respond to emailed queries. “For Deloitte, this may be a prestigious deal and will add to its portfolio a national energy company,” said one of