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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

Shine Jacob  |  New Delhi 

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 ...

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First Published: Wed, December 04 2019. 01:39 IST
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