Race for BPCL! Vedanta, Apollo Global, I Squared Capital arm Think Gas in race – Who will win?

Last week, an inter-ministerial meet was held to discuss the BPCL valuation process and setting of the reserve price. Now, it has been reported that a high-powered committee will on Tuesday evaluate preliminary bids received from mining-to-oil conglomerate Vedanta and private equity firms Apollo Global and I Squared Capital’s arm Think Gas for buying the government’s 52.98 per cent stake in BPCL. On Tuesday, the panel will see transaction advisor Deloitte’s report on the scrutiny of the three bids that were received at the close of bidding last month, as per a report by news agency PTI.

The Ministry of Petroleum and Natural Gas, the parent ministry of Bharat Petroleum Corporation Limited (BPCL), has been asked to give its views on the response and the process so far.

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