Successful disinvestment of BPCL, CONCOR to lay path for ambitious stake sales in future: Garg
4 years, 11 months ago

Successful disinvestment of BPCL, CONCOR to lay path for ambitious stake sales in future: Garg

Live Mint  

New Delhi: Successful disinvestment of Bharat Petroleum, Container Corporation of India and Shipping Corporation will lay the foundation of a much ambitious programme for stake sale in the central public sector undertakings, Former Finance Secretary Subhash Chandra Garg said on Friday. "Initiation of strategic stake sale in BPCL, CONCOR and SCI was a path-breaking measure and if carried to its logical end, privatisation agenda, stalled for last more than 15 years, would come back on track. "These three transactions would lay foundation for a much more ambitious programme of disinvestment of central public sector undertakings," he said. The former finance secretary also noted that if this larger and more ambitious programme of strategic disinvestment can be announced, company by company in the Budget 2020-21, it would send very clear and positive message.

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History of this topic

Centre receives ₹8,625 crore as disinvestment receipts so far in 2024-25
4 weeks, 2 days ago

Centre receives ₹8,625 crore as disinvestment receipts so far in 2024-25

Live Mint  

New Delhi, December 16 : The government has realised ₹8,625 crore through various minority stake sale disinvestments so far during the current financial year 2024-25, MoS Finance Pankaj Chaudhary informed Lok Sabha on Monday in a written reply. 8,625 crore through various minority stake sale disinvestment transactions during the current financial year," the minister said in his written reply in …

Privatisation not on hold but not a priority, DIPAM secretary Pandey says
5 months, 3 weeks ago

Privatisation not on hold but not a priority, DIPAM secretary Pandey says

Live Mint  

New Delhi: Privatisation of central public sector enterprises has not been put on hold, but is not a priority under the government's calibrated approach to disinvestment, said Tuhin Kanta Pandey, secretary of the department of investment and public asset management. The outright focus now is on value creation," Pandey told Mint in an exclusive post-budget interaction in response to a …

Why govt is not sure about the BPCL stake sale this year
2 years, 7 months ago

Why govt is not sure about the BPCL stake sale this year

Live Mint  

NEW DELHI : The government is unlikely to restart the disinvestment process for Bharat Petroleum Corp. Ltd this year because of the stock market volatility and soaring energy prices, senior officials said. The government decided to call off BPCL’s disinvestment last month after interested parties could not continue due to prevailing conditions in global energy markets and the pandemic. The …

BPCL Privatisation: Govt Calls Off Present Expression of Interest Process To Sell 53% Stake
2 years, 7 months ago

BPCL Privatisation: Govt Calls Off Present Expression of Interest Process To Sell 53% Stake

News 18  

The government has called off the current expression of interest process for BPCL’s privatisation, which was dubbed as India’s biggest ever, as the majority of bidders have expressed their “inability to continue in the current process of disinvestment of BPCL”, according to a notification by the DIPAM. Owing to prevailing conditions in the global energy market, the majority of QIPs …

Govt Drops Offer To Sell 53 Pc Stake In BPCL As Most Bidders Express Inability To Participate
2 years, 7 months ago

Govt Drops Offer To Sell 53 Pc Stake In BPCL As Most Bidders Express Inability To Participate

ABP News  

New Delhi: The government on Thursday withdrew its offer to sell its entire 52.98 per cent stake in BPCL, saying that majority of bidders have expressed their inability to participate in the current privatisation process due to prevailing conditions in the global energy market. The government had planned to sell its entire 52.98 per cent stake in Bharat Petroleum Corporation …

India weighs selling part of BPCL instead of full stake: Report
2 years, 7 months ago

India weighs selling part of BPCL instead of full stake: Report

Live Mint  

India is considering selling up to a quarter of state-run refiner Bharat Petroleum Corp Ltd after failing to attract suitors for the whole firm, two officials said, as the government's divestment programme moves slower than expected. New Delhi is considering inviting bids for a 20%-25% stake in BPCL, instead of an outright sale of its entire 52.98% holding, the two …

BPCL Shares Tank 5% After Vedanta's Anil Agarwal Says Disinvestment Being Reviewed
2 years, 8 months ago

BPCL Shares Tank 5% After Vedanta's Anil Agarwal Says Disinvestment Being Reviewed

News 18  

BPCL shares drop as much as 5.4 per cent to Rs 372.3 apiece on BSE in Monday’s trade, after Vedanta’s Anil Agarwal says the BPCL disinvestment process is being reviewed. The central government had a plan to sell its entire 53 per cent stake in BPCL to private players in 2021-22, but after delays, this target was shifted to 2022-23. …

BPCL Disinvestment: Govt Not To Go Ahead With Current Plan; To Draw New Strategy, Says Anil Agarwal
2 years, 8 months ago

BPCL Disinvestment: Govt Not To Go Ahead With Current Plan; To Draw New Strategy, Says Anil Agarwal

News 18  

Vedanta Resources Chairman Anil Agarwal said the government has decided not to go ahead with Bharat Petroleum Corporation Ltd’s privatisation plan and has told its suitors that it will revise the plan and come to market. Recently, Minister of State for Finance Bhagwat Karad told in the Rajya Sabha that the disinvestment process of oil marketing firm Bharat Petroleum Corporation …

Govt Says BPCL, Air India Stake Sale Will be Completed by September, LIC IPO Post October
3 years, 11 months ago

Govt Says BPCL, Air India Stake Sale Will be Completed by September, LIC IPO Post October

News 18  

The initial public offering of India’s largest insurance company LIC is likely after October this year, a top official said on Tuesday laying out the government’s divestment calendar that includes completing the sale of flag carrier Air India and oil firm BPCL within the first half of the next fiscal. Targeting to raise Rs 1.75 lakh crore from the asset …

BPCL, Air India stake sale by September; LIC IPO post October, says DIPAM Secretary
3 years, 11 months ago

BPCL, Air India stake sale by September; LIC IPO post October, says DIPAM Secretary

The Hindu  

The initial public offering of India's largest insurance company LIC is likely after October this year, a top official said on Tuesday laying out the government's divestment calendar that includes completing the sale of flag carrier Air India and oil firm BPCL within the first half of the next fiscal. Targeting to raise ₹1.75 lakh crore from the asset sale …

Adequate interest for BPCL disinvestment, no need to alter sale process: Govt
4 years, 1 month ago

Adequate interest for BPCL disinvestment, no need to alter sale process: Govt

India TV News  

The government has said that adequate interest has been received for the strategic disinvestment of public sector refiner Bharat Petroleum Corporation Ltd with several suitors submitting expressions of interest. With this, there is no need to either defer the current strategic sale process or look for alternatives, as after the scrutiny of the eligibility of the bidders, the process would …

Bharat Petroleum privatisation: Govt to provide rules on employee protection, asset stripping later
4 years, 4 months ago

Bharat Petroleum privatisation: Govt to provide rules on employee protection, asset stripping later

Live Mint  

The government will provide guidance on employee protection, asset stripping and business continuity in Bharat Petroleum Corp Ltd to potential acquirers of the company only at a later stage of bidding, according to privatisation rules issued by the disinvestment department. On a query on restrictions relating to employee protection, asset stripping, business continuity and lock-in of shares, DIPAM said, "This …

BPCL disinvestment: Govt invites bids to sell its 52.98 percent stake
4 years, 10 months ago

BPCL disinvestment: Govt invites bids to sell its 52.98 percent stake

India TV News  

In another Public sector companies disinvestment drive, the government on Saturday invited bids to sell its entire 52.98 percent stake in India's second-biggest oil refiner Bharat Petroleum Corp Ltd. "The Government of India is proposing strategic disinvestment of its entire shareholding in BPCL comprising 114.91 crore equity shares, which constitutes 52.98 percent of BPCL's equity share capital, along with transfer …

Economic Survey 2020: Privatised CPSEs reported better profit, sales after transition; aggressive disinvestment promotes efficiency
4 years, 11 months ago

Economic Survey 2020: Privatised CPSEs reported better profit, sales after transition; aggressive disinvestment promotes efficiency

Firstpost  

It observes that the focus of the strategic disinvestment needs to be to exit from non-strategic business and directed towards optimising economic potential of these CPSEs. New Delhi: Most privatised CPSE witnessed improvement in net worth, profit, gross revenue and sales growth after the transition, the Economic Survey has said. Aggressive disinvestment, preferably through the route of strategic sale, should …

What the BPCL stake sale says about the future of India’s disinvestment policy | The Hindu Parley podcast
5 years ago

What the BPCL stake sale says about the future of India’s disinvestment policy | The Hindu Parley podcast

The Hindu  

Last month, the Union Cabinet gave its approval for the privatisation of Bharat Petroleum Corporation Limited, a profitable Maharatna public sector company that does oil refining and marketing. This large-scale disinvestment — the BPCL stake alone is expected to raise around ₹60,000 crore for the Exchequer this year — will certainly ease the fiscal pressures being faced by the country. …

Government to sell BPCL in big disinvestment push: 10 takeaways
5 years, 1 month ago

Government to sell BPCL in big disinvestment push: 10 takeaways

India TV News  

Pushing the pedal on its disinvestment programme, the Cabinet Committee on Economic Affairs on Wednesday approved strategic disinvestment in five large public sector undertakings -- BPCL, CONCOR, SCI, THDC and NEEPCO -- along with a change in management control in these companies. Addressing the media after the Cabinet meeting, Finance Minister Nirmala Sitharaman said that while the Centre will strategically …

Centre approves major privatisation drive; Nirmala Sitharaman says govt to sell stake in BPCL, SCI and Concor
5 years, 1 month ago

Centre approves major privatisation drive; Nirmala Sitharaman says govt to sell stake in BPCL, SCI and Concor

Firstpost  

The Union Cabinet on Wednesday approved sale of government’s stake in blue-chip oil firm BPCL, shipping firm SCI and onland cargo mover Concor. New Delhi: In the biggest privatisation drive ever, the Union Cabinet on Wednesday approved sale of government’s stake in blue-chip oil firm BPCL, shipping firm SCI and onland cargo mover Concor, as well as decided to cut …

Govt to sell BPCL in mega push for privatization
5 years, 1 month ago

Govt to sell BPCL in mega push for privatization

Live Mint  

New Delhi:The cabinet committee on economic affairs on Wednesday cleared one of the government’s largest asset-sale exercises involving five companies, including the privatization of Bharat Petroleum Corp. Ltd and Shipping Corp. of India. Other companies in which the government will sell stakes include Container Corp, of India Ltd, THDC India Ltd and North Eastern Electric Power Corp. Ltd. As part …

Two-phased strategic disinvestment for BPCL likely
5 years, 2 months ago

Two-phased strategic disinvestment for BPCL likely

Live Mint  

New Delhi: The government may consider two-phased disinvestment for public sector oil refiner and retailer Bharat Petroleum Corporation Ltd, if the initial strategic sale of the entire 53.29% government stake in the company fails to get requisite response. Thus, the government may sell half or around 26-27% of its share first and consider complete exit from BPCL at a later …

Finance Ministry reworking strategic sale procedure to ensure outright sale of central public sector enterprises
5 years, 8 months ago

Finance Ministry reworking strategic sale procedure to ensure outright sale of central public sector enterprises

Firstpost  

Currently, there is no set timeline for concluding strategic sale of a state-owned company and the entire process, in some cases, drags on for months, if not years. New Delhi: The finance ministry is reworking strategic sale procedure to ensure outright sale of Central Public Sector Enterprises within 4 months of issuance of documents to potential investors, a move aimed …

First-ever sale of 'enemy shares'; buyback by CPSEs yield over Rs 11,300 cr to exchequer in FY19
5 years, 9 months ago

First-ever sale of 'enemy shares'; buyback by CPSEs yield over Rs 11,300 cr to exchequer in FY19

Firstpost  

Enemy property refers to the assets left behind by people who migrated to Pakistan or China and are no longer citizens of India. New Delhi: Sale of ’enemy shares’ and buyback of stocks by Central Public Sector Enterprises have together yielded the government over Rs 11,300 crore, thus helping the exchequer mop up Rs 85,000 crore from disinvestment in the …

Finance ministry banking on CPSE acquisitions, buybacks to meet FY19 disinvestment target
6 years, 2 months ago

Finance ministry banking on CPSE acquisitions, buybacks to meet FY19 disinvestment target

Firstpost  

The Finance Ministry is banking on merger and acquisitions among CPSEs and share buybacks by state-run companies to meet the Rs 80,000-crore disinvestment target for the current fiscal. New Delhi: The Finance Ministry is banking on merger and acquisitions among CPSEs and share buybacks by state-run companies to meet the Rs 80,000-crore disinvestment target for the current fiscal. A Finance …

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