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Govt likely to invite bids for stake sale in Air India, BPCL by next month

Last month, the Cabinet had approved a strategic divestment of the government's 53.29 per cent stake in BPCL, along with transfer of certain management control

Press Trust of India  |  New Delhi 

Air India
This is excluding BPCL's equity share holding of 61 per cent stake in Numaligarh Refinery.

The government is likely to invite preliminary bids for stake sale in national carrier and next month, according to sources.

The airline is sitting on a debt pile of around Rs 58,000 crore, besides huge accumulated losses running into thousands of crores.

"Expression of Interest (EoI) inviting bids for stake sell in and expected next month," the sources said.

They, however, added that stake sale in big assets like will take time as due diligence has to be carried out.

Last month, the Cabinet had approved a strategic divestment of the government's 53.29 per cent stake in BPCL, along with transfer of certain management control.

This is excluding BPCL's equity share holding of 61 per cent stake in Numaligarh Refinery.

First Published: Fri, December 20 2019. 18:15 IST
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