Privatization of BPCL may not be over by FY21-end File photo of a BPCL refinery in Mumbai. The sale of the government’s 52.98% stake in the company is expected to fetch around ₹45,000 crore. (Reuters) Share Via Read Full Story The government’s plan to privatize Bharat Petroleum Corp. Ltd (BPCL) is unlikely to be completed by the end of the fiscal year because of the time required to get regulatory clearances for the transaction. “It has to go to the Competition Commission of India, which will take some time. Since it is a listed company, the winner has to make an open offer, which will also take time. Regulatory requirements may delay the process even after receiving the financial bids. Everything is a well laid-out process, so nothing can be rushed through," a finance ministry official said on condition of anonymity.