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The Times of India
The Times of India
Business
PTI

Govt drops offer to sell 53% stake in BPCL as most bidders express inability to participate

BPCL New Delhi

NEW DELHI: The government on Thursday withdrew its offer to sell its entire 52.98 per cent stake in BPCL, saying that majority of bidders have expressed their inability to participate in the current privatisation process due to prevailing conditions in the global energy market.

The government had planned to sell its entire 52.98 per cent stake in Bharat Petroleum Corporation Ltd (BPCL) and invited Expressions of Interest (EoIs) from bidders in March 2020. At least three bids came in by November 2020.

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