BPCL says no bidder visits in Q3, privatisation may be pushed to next fiscal

BPCL says no bidder visits in Q3, privatisation may be pushed to next fiscal

The government is selling its entire 52.98 per cent stake in BPCL for which three expressions of interest (EoIs), including one from billionaire Anil Agarwal-led Vedanta Group, have been received.







PTI









February 02, 2022 / 06:43 PM IST





BPCL



Privatisation of India’s second-largest oil refiner BPCL may have been pushed back to the next fiscal year as no bidder visited the firm’s premises in the last quarter, a senior company official said on Wednesday.

The government is selling its entire 52.98 per cent stake in BPCL for which three expressions of interest (EoIs), including one from billionaire Anil Agarwal-led Vedanta Group, have been received.

Financial bids are yet to be called.

At a conference call with analysts, BPCL Director-Finance V R K Gupta said the firm continues to update data for bidders in the fray for the government stake and is also replying to their queries.

During the third quarter (October-December 2021) "no major events happened in terms of bidder visits to our company premises and the status quo is same," he said.

"We don’t have any significant role in the disinvestment process,” he said.

"Whatever due diligence, data requirements are there, every quarter we update