Govt intends to complete BPCL disinvestment by March-end: Company chairman

Acquirer will have to make open offers to minority shareholders of Petronet LNG and IGL for 26% shares, costing new owner of BPCL another Rs 19,000 cr

The disinvestment of Bharat Petroleum Corporation (BPCL) is intended to be completed by March 2022 according to company Chairman, Arun Kumar Singh.

Speaking at a press conference after the Annual General Meeting of the company on Monday, Singh said, “The government at many forums and instances has said that it intends to complete the transaction within this financial year, this means by March 2022. So as of now, stated position is March.” He was responding to a query on when will the disinvestment of BPCL be complete.

In August 2021, Tuhin Kant Pandey, Secretary at the Department of Investment and