BPCL tanks 6% as govt extends deadline to submit EoI to November 16

According to a Reuters report, Rosneft and Saudi Aramco are unlikely to bid in the privatisation of the state-owned refiner

Shares of Bharat Petroleum Corporation Limited (BPCL) slipped 6 per cent to Rs 363 on the BSE in the intra-day trade on Wednesday after the government extended the deadline to submit expression of interest (EoI) for the company's privatisation to November 16, 2020.

The government on March 7, 2020, had issued a Preliminary Information Memorandum document (PIM) for inviting Expression of Interest (EOI) for strategic disinvestment of BPCL. "In view of further requests received from the Interested Bidders (IBs) and the prevailing situation arising out of Covid-19 pandemic, the last date for submission of EoIs is further extended to 16th November,