Roadshows for BPCL, Container Corporation veer off the beaten track

Govt sounds out select few firms over stake sales; might push process to next financial year

No information memorandum (IM), no data room and selective invitation. This may appear unconventional for in any stake sale, but that was how the recent roadshows abroad were conducted by the Department of Investment and Public Asset Management (Dipam). 

The roadshows, termed “sounding” roadshows, were for strategic sale of government stake in Bharat Petroleum Corporation (BPCL) and Container Corporation (Concor).

Despite all this, BPCL roadshows – held in the United Kingdom, United States of America and the United Arab Emirates – attracted attention from global oil and gas majors like Shell, Chevron, Conoco Philps, Saudi Aramco, Rosneft and Exxon Mobil. For Concor,