Cabinet approval for BPCL’s disinvestment is awaited (likely in Nov), which should provide clarity on extent of control being given up, implications for minorities, etc.
Government has, meanwhile, started the process of selecting advisors. Some interesting points from the RFPs (Request for Proposal):
- Entire 53% govt stake to be sold (in the case of CONCOR, the RFP explicitly mentions partial disinvestment);
- No mention of selling to another State Owned Enterprise (as is mentioned for the two power SOEs);
- Target to complete the transaction in FY20 itself (critical for the govt to meet its disinvestment target and reduce fiscal slippage risks).
Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.
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