Privatisation-bound BPCL may sell some stake in IGL, Petronet Premium A way out could be for BPCL to sell a part of its shareholding in the two firms and shed promoter status, thereby obviating the need for open offers. 4 min read . Updated: 25 May 2021, 01:01 PM IST PTI BPCL holds 12.5% of shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5% stake in city gas retailer, IGL Read Full Story Privatisation-bound Bharat Petroleum Corporation (BPCL) may sell a part of its stake in Petronet LNG and Indraprastha Gas (IGL) to shed its promoter status to obviate the need for its new owner to make open offers for the two gas companies, sources said.