BPCL disinvestment may see PSU participation

20 Nov 2020 CW Team

Bids closed on Monday. The interest levels for BPCL, however, remain stagnant in the present market conditions, despite having multiple suitors. While Anil Agarwal’s Vedanta group, as well as other overseas funds, might be among the “multiple suitors” for purchasing the state-owned BPCL (Bharat Petroleum Corporation Ltd), several global oil and gas leaders such as Aramco, Adnoc, and others have stayed out of the bidding.

Official sources said they may allow PSU participation in bidding for BPCL if the government shares fetch a lower price in the price bidding stage next month. However, a Disinvestment Department official has ruled the chance for rebidding and mentioned that the interest level remains adequate in the current round.

The sources added that the participation of companies such as IOC and ONGC could be allowed only if there is no response from the prospective bidders. The government is hopeful that the bidding will be successful and that they can finalise the sale of BPCL without involving the PSUs.

Finalising the bidding is important for the government to achieve its high disinvestment target. The disinvestment target for BPCL is around Rs 2.1 trillion for the current fiscal year, but the Government could only garner a meagre Rs 50 billion in the disinvestment receipts. Currently, the government owns a 53.29% stake in BPCL and is interested in selling it off to a strategic investor to mobilise over Rs 500 billion as a disinvestment receipt.

Despite having a good market value and takeover target, the company’s sale plan has been postponed four times since March.

The government may rope in at least two of its blue-chip firms, Indian Oil (IOC) and Oil and Natural Gas Corporation (ONGC), to participate in the tactical disinvestment of Bharat Petroleum Corporation (BPCL). This is an alternative plan if the current bidding process that is open to the private sector domestic and global players fails to get the desired interest or valuation. Bids closed on Monday. The interest levels for BPCL, however, remain stagnant in the present market conditions, despite having multiple suitors. While Anil Agarwal’s Vedanta group, as well as other overseas funds, might be among the “multiple suitors” for purchasing the state-owned BPCL (Bharat Petroleum Corporation Ltd), several global oil and gas leaders such as Aramco, Adnoc, and others have stayed out of the bidding. Official sources said they may allow PSU participation in bidding for BPCL if the government shares fetch a lower price in the price bidding stage next month. However, a Disinvestment Department official has ruled the chance for rebidding and mentioned that the interest level remains adequate in the current round. The sources added that the participation of companies such as IOC and ONGC could be allowed only if there is no response from the prospective bidders. The government is hopeful that the bidding will be successful and that they can finalise the sale of BPCL without involving the PSUs. Finalising the bidding is important for the government to achieve its high disinvestment target. The disinvestment target for BPCL is around Rs 2.1 trillion for the current fiscal year, but the Government could only garner a meagre Rs 50 billion in the disinvestment receipts. Currently, the government owns a 53.29% stake in BPCL and is interested in selling it off to a strategic investor to mobilise over Rs 500 billion as a disinvestment receipt. Despite having a good market value and takeover target, the company’s sale plan has been postponed four times since March.

Real Estate

13 Feb 2026

Reliance MET City Launches Metropolis Project In Haryana

Reliance MET City (RMC) has launched Metropolis, an integrated mixed-use project in Haryana that is expected to redefine the regional urban landscape. RMC said the development will combine residential, commercial and leisure components to meet rising demand for organised urban spaces. The project has been positioned to benefit from existing and planned transport links and municipal infrastructure, and aligns with regional plans for sustainable urbanisation. Company representatives framed the initiative as part of a broader expansion strategy in northern India. The Metropolis project will inco..

Infrastructure Energy

13 Feb 2026

Radiance Renewables Raises 100 Million Dollars for Expansion

Eversource-backed Radiance Renewables has secured 100 million dollars (100 mn dollars) in funding from Impact Fund Denmark and FMO to support its expansion. The investment will bolster the company's capital base and enable acceleration of project development and deployment. Radiance Renewables is positioning itself to scale its renewable energy portfolio and strengthen operational capabilities. The funding round reflects growing investor appetite for climate-focused infrastructure. Impact Fund Denmark and FMO are established impact investors that channel capital into sustainable energy projec..

Infrastructure Energy

13 Feb 2026

Temasek-led Consortium in Talks for Rs 15 bn Pre-IPO Round

A Temasek-led consortium is in advanced talks to invest Rs 15 billion (Rs 15 bn) in Clean Max Enviro Energy in a pre-initial public offering funding round, according to people familiar with the matter. The prospective financing is intended to provide capital for operational expansion and to strengthen the company's balance sheet ahead of a planned public listing. The discussions reflect continued investor appetite for renewable energy platforms in the region. Clean Max Enviro Energy is a renewable energy developer that provides sustainable power solutions to commercial and industrial customer..