Government bids for petroleum company BPCL, selling its entire stake

Bharat Petroleum Corp Ltd (BPCL) bids: BPCL is the second-largest oil refinery company in the country. This will give buyers access to the country's 14 percent oil refining capacity and 20 percent fuel market share.






Bharat Petroleum Corp Ltd (BPCL) bids: The Modi government on Saturday (7 March) called for bids to sell stake in petroleum company Bharat Petroleum Corporation Limited (BPCL). The government is selling its entire stake in the company. The government holds a 52.98 percent stake in the company.




The Department of Investment and Public Asset Management (DIPAM) has given information about this. The department said in the bid document that a letter of interest was issued on May 2 for the strategic sale of Bharat Petroleum Corporation Limited.

The Government of India is proposing strategic control of the management along with strategic disinvestment of the total share of 52.98 per cent of its 114.91 crore equity shares in BPCL i.e. BPCL's equity share capital. '




Let us know that BPCL is the second-largest oil refinery company in the country. This will give buyers access to the country's 14 percent oil refining capacity and 20 percent fuel market share. BPCL has a market capitalization of Rs 1.03 lakh crore. The government has set a target of raising Rs 2.1 lakh crore from disinvestment in 2020-21. In this context, privatization of BPCL is important.

Let us know that not only BPCL but also Shipping Company of India Shipping Corporation (SCI) and Container Corporation of India (Concor) related to freight have recently been approved to sell government stake.




The government has accepted decreasing its interest in select PSUs like IOC to below 51 percent. At the same time, in the budget presented this year, the government has announced the IPO of the stake of LIC, the country's largest and public insurance company.

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