SME Times is powered by   
Search News
Just in:   • India needs to diversify export portfolio: Report  • Domestic airlines to fly 12,983 flights per week this winter  • New energy policy won't violate deals with US, Canada: Mexican Prez  • 'Digitisation need of the hour for logistics sector'  • KTR calls for empowering states to boost country's growth 
Last updated: 30 Sep, 2020  

bpcl.thumb.jpg Govt extends bid-submission deadline for BPCL sale till Nov 16

Petrol.9.jpg
   Top Stories
» India needs to diversify export portfolio: Report
» 'Digitisation need of the hour for logistics sector'
» 'IBC raised confidence of all investors in economy'
» Relief to borrowers on loans not repaid during 6-month moratorium
» GST return filing deadline extended, again
SME Times News Bureau | 30 Sep, 2020
As the pandemic has impacted the government's mega disinvestment plans, the Centre has again extended the deadline for submission of Expressions of Interest (EoI) for the strategic sale of Bharat Petroleum Corp Ltd (BPCL) to November 16.

This is the fourth extension of the deadline for bid submission. The government had first invited bids by May 2. This was then extended till June 13, and to July 31 in the second extension and to September 30 in the third instance.

In an official notification the Department of Investment and Public Asset Management (DIPAM), attributed the decision to requests received from interested bidders, along with the situation arising out of the pandemic.

"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, 2020 (by 5.00 PM)," it said.

The disinvestment in BPCL involves the government selling its entire 52.98 per cent stake in the company to a strategic investor with transfer of management control. The government has barred PSUs from bidding for BPCL and expects private sector Indian players and global MNCs to bid for its stake. The government's stake in BPCL is worth around Rs 50,000 crore.

Shares of the state-run oil major plunged on Wednesday after the extension of the deadline. At 11.24 a.m., its shares on the BSE were trading at Rs 362.25, lower by Rs 23.95 or 6.20 per cent from its previous close.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 26 Oct, 2020
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» 'Centre open to further economic stimulus'(1)
» Delay in dealing with GST refund delays(1)
» NPAs hurdle to banks' rate cut transmission(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter