(Anjali Shreya, Intern Journalist): The country’s second-largest oil refinery company Bharat Petroleum Corporation Ltd. (BPCL) deadline to bid for privatization has increased once again. Actually, the new deadline for submitting a Letter of Interest (EOI) for BPCL is 30 September. This is the third time when the government has extended the date of submission of EOI. Let us know that through EOI, it is known which companies or investors are willing to bid.
The Union Cabinet in November last year allowed the government to sell its entire 52.98 percent stake in BPCL. However, letters of interest (EOI) or bids for BPCL were sought only on March 7. Earlier, the date of submission of EOI was two May, but on 31 March it was increased to 13 June. It was extended to 31 July on 26 May. Now it has been extended to 30 September.
The Department of Investment and Public Asset Management (Deepam) said in a notice, “The date of submission of EOI is being extended to 30 September 2020, following the request of the units desirous of bidding. This means that by September 30, to buy a stake in BPCL, investors will have to give a letter of interest.
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