Department of Investment and Public Asset Management and Petroleum Ministry will lead joint delegation for BPCL roadshows.
The rating agencies are closely following the developments on the government's stake sale in BPCL .
The tender closes on December 10 and is valid until December 12, one of them said.
Thousands of workers have already protested the privatisation of BPCL, fearing job losses, as India plans to invite international energy firms to participate in the privatisations.
Attacking the Prime Minister, Gandhi said Modi will be thrown out of power "like a rat" if he failed to give BPCL and ONGC to big corporates.
Deloitte had quoted a similar price for its services in the divestment process of Container Corporation of India.
SBI Caps was the second-lowest bidder, quoting Rs 15-17 crore
The land and stake sale is expected to be completed by FY20-end
The strike will continue for multiple days if privatisation is not reconsidered, Praveen Kumar P, general secretary of Cochin Refineries Employees Association (CREA) said
Trends on SGX Nifty indicate a flat opening for the broader index in India, with a four-point loss. Nifty futures were trading around 12,083-levels on the Singaporean Exchange
Raising objections to the proposed BPCL privatisation, over 20 different employees unions of BPCL called for a nationwide strike.
The stake sale will follow a two-stage process of first inviting expression of interest (EoI) from potential bidders who will after due diligence will be asked to submit price bids in the second part, officials said.
The Union Cabinet on Wednesday decided to sell its entire stake in three enterprises and bring down stake below 51 per cent in select PSUs.
The government’s decision to sell BPCL, SCI and Concor indicates it is no longer diffident about privatisation
The Cabinet Committee on Economic Affairs had on Wednesday decided to sell the government's entire stake in the country's second-largest state refiner BPCL and India's largest shipping company Shipping Corporation of India (SCI).
"It is encouraging to see the government take further steps to push the reforms agenda as well as address some of the critical pain points of industry.
The Cabinet on Wednesday approved a strategic divestment of the government's 53.29 per cent stake in BPCL, along with transfer of certain management control. This is excluding BPCL's equity share holding of 61 per cent stake in Numaligarh Refinery.
Her attack comes days after Sitharaman reportedly said the government was looking to wrap up the sale of state-run Air India and oil refiner and marketer BPCL by March 2020.
Among all three OMCs, BPCL’s results were impressive.
There is a possibility of government selling its 53.29 per cent stake along with management control in oil marketing and refining firm for about USD 10 billion (around Rs 70,900 crore)
Days before the Union Cabinet takes up a proposal to privatise state-owned BPCL, Petroleum Minister Dharmendra Pradhan on Thursday said the government has 'no business to be in business', and cited examples of telecom and aviation sectors where opening up had led to increased competition and price cuts to the benefit of consumers.
Bharat PetroResources Ltd (BPRL), an exploration and production subsidiary of BPCL, had in August 2008 bought a 10 per cent stake in Area-1 Offshore of the Rovuma Block from the US energy major Anadarko Petroleum Corp for USD 75 million. That same month Videocon through its subsidiary acquired a 10 per cent stake in the same block for an equivalent block.
Track this space for all live updates on the Cabinet briefing by Union Ministers Prakash Javadekar and Ravi Shankar Prasad.
The companies may bid for the government’s entire 53.3 percent stake in BPCL, either individually or as part of a consortium