BPCL privatisation bid deadline extended

The government has, for the second time, extended the bidding deadline for privatisation of Bharat Petroleum Corporation Limited (BPCL) by over a month to July 31, 2020. While the cabinet had approved the sale of the government’s entire 52.98 per cent stake in BPCL in November 2019, offers seeking expressions of interest (EoIs) or bids showing interest in buying its stake, were invited only on March 7, 2020. The EoI submission deadline was May 2, 2020, but on March 31, 2020 it was extended up to June 13, 2020 and then further to July 31, 2020.