The government has extended the bidding deadline for BPCL till July 31

-


(PTI) New Delhi on 27 May 2020, Wednesday

The Central Government has for the second time extended the deadline for bidding for the privatization of Bharat Petroleum Corporation Limited (BPCL), India's second largest oil refinery, to July 31, 2020.

The Cabinet had in November last year approved the sale of the entire 52.98 per cent holding of the government in BPCL in November 2020, for which an Expression of Interest (EOI) or Bids was sought on March 7. The deadline for issuing EOI was May 2, 2020, but it was extended again from March 31, 2020 to June 13, 2020. On Wednesday, the government decided to extend this period till July 31, 2020.

The Government of India has proposed a strategic sale of its entire shareholding in BPCL of 114.91 crore shares. The company is 52.98 per cent owned by the government. Management control along with shares in BPCL will also be transferred to the strategic buyer, although the government will sell BPCL's 61.65 per cent stake in Numaligarh Refinery Ltd to another public sector oil and gas company.

Bidding for this will be done in two phases. A private company with a net worth of US 10 10 billion will be eligible to bid for BPCL and a consortium of more than four companies will not be allowed to bid. A change in the consortium will be approved within 45 days, but the lead manager cannot be replaced.

BPCL has a market capitalization of Rs 68,223 crore and a government holding of Rs 36,159 crore at current prices. The successful bidder will have to make an open offer for the remaining 26 per cent holding of other shareholders in the company.

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se
Read more