Govt extends Bharat Petroleum privatisation bid deadline to July 31

Any private company having a net worth of $ 10 billion is eligible for bidding and consortium of not more than four firms will be allowed to bid

The government has for the second time extended the deadline for bidding for privatisation of India's second-biggest oil refiner Bharat Petroleum Corp Ltd (BPCL) by over a month to July 31.

While the Cabinet had in November last year approved the sale of government's entire 52.98 per cent stake in BPCL, offers seeking expression of interest (EoI), or bids showing interest in buying its stake, were invited only on March 7.

The EoI submission deadline was May 2, but on March 31 it was extended up to June 13.

On Wednesday, the government said this deadline is further being extended