Entry of big Pvt equity players set to heat up BPCL takeover
A heated competition is expected among all interested parties driving up valuation for the state-run refiner BPCL, say industry experts.
BPCL to seek PNGRB nod for 2 pipelines worth 30 bln rupees
A heated competition is expected among all interested parties driving up valuation for the state-run refiner BPCL, say industry experts.
As the government is set to sell its entire 52.98 per cent stake in India s second largest fuel retailer Bharat Petroleum Corporation Limited (BPCL), Mining-to-oil conglomerate Vedanta, private equity firms Apollo Global and I Squared Capital s arm Think Gas have submitted bids for the same.
Shares of Vedanta Ltd on Wednesday were up by about 3% at 149.75 on the Bombay Stock Exchange at around 11.45 am.
The government is selling its entire 52.98% stake in India s second-largest fuel retailer as part of its plans to raise a record Rs 2.1 lakh crore from disinvestment proceeds in 2020-21 (April 2020 to March 2021).
Tuhin Kanta Pandey, secretary, Department of Investment and Public Asset Management (DIPAM), which is handling the strategic sale, had tweeted on November 16 that the transaction advisors for the sale of government s 52.98% stake in BPCL have reported receiving multiple expressions of interest.
A high-powered committee was to evaluate preliminary bids received for the government s 52.98 percent stake in BPCL on December 15. The Ministry of Petroleum and Natural Gas, the parent ministry of Bharat Petroleum Corporation Limited (BPCL), has also been asked to give its views on the response and the process so far.
Stocks in the news today: Union Bank raised Rs 500 crore through Basel III compliant bonds
The domestic stock markets are likely to open firm, after an absolutely flat closing on Wednesday, going by trends from the global front. Trends on SGX Nifty indicate a positive start for the index in India, with a gain of 50 points. At 7:30 am, the Nifty futures were trading at 13,629, higher by 50 points or 0.45 per cent on the Singapore Stock Exchange.
Here are some stocks to watch in Wednesday s (December 16) session:
Punjab National Bank
Punjab National Bank shares are set to see some investor interest as the bank s Rs 7,000 crore Qualified Institutional Placement (QIP) opens on December 15. The state-owned lender has set the floor price for its proposed QIP at Rs 7,000 crore. The capital raising committee of the bank has authorised the opening of the QIP issue and approved the floor price.
Farmers protest: Govt likely to seek Cabinet nod for MSP assurance The Central government might seek a Cabinet approval for an executive order on securing minimum support price (MSP) to break the logjam on the three farm laws, sources have said.
With Air India bid, Tatas hope to give wings to their aviation dream Nearly two decades after its plan to take over Air India was scuppered by political and employee protests, the Tata group is taking another shot at acquiring the national carrier. The Tatas are pioneers of civil aviation in the country the first Indian company to launch postal mail service and international flights from India.
BPCL bid evaluation committee to meet today; Vedanta, Apollo Global in fray
On Tuesday, the panel will see transaction advisor Deloitte s report on the scrutiny of the three bids that were received at the close of bidding last month
PTI | December 15, 2020 | Updated 07:58 IST
A high-powered committee will, on Tuesday, evaluate preliminary bids received from mining-to-oil conglomerate Vedanta and private equity firms Apollo Global and I Squared Capital s arm Think Gas for buying the government s 52.98 per cent stake in Bharat Petroleum Corporation Limited (BPCL), sources said.
Last week, an inter-ministerial meet was held to discuss the BPCL valuation process and setting of the reserve price. On Tuesday, the panel will see transaction advisor Deloitte s report on the scrutiny of the three bids that were received at the close of bidding last month, sources said.