BPCL disinvestment process moving on well, to conclude sale by Sept-end: DIPAM Secy

Disinvestment process of oil marketing firm BPCL is moving on well and expected to conclude by September-end, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Thursday.

The government is selling its entire 52.98 per cent stake in BPCL in the nation’s biggest privatisation till date.

Vedanta Group and private equity firms Apollo Global and I Squared Capital’s Indian unit Think Gas have put in an expression of interest for buying the government’s stake.

Speaking at Times Network India Economic Conclave, Pandey said, “It (BPCL disinvestment) is moving on well and we hope to conclude in H1 (of 2021-22).”

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