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Vedanta puts in EoI to buy govt's entire stake in BPCL

Nov 19, 2020 11:06 IST

Vedanta group has submitted an expression of interest to acquire the government’s 52.98% stake in Bharat Petroleum Corporation Ltd or BPCL. Vedanta Limited is the holding company of Cairn India, which accounts for around a quarter of India’s annual crude oil output. The deadline for submission of EoIs for BPCL was November 16. The disinvestment of BPCL is a key part of the Centre’s plans to raises ₹2.1 lakh crore from disinvestment proceeds in the current fiscal.

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