New Delhi: Global giants such as Saudi Aramco, Exxon Mobil and India’s Reliance Industries are in the race to pick up the Centre’s 52.98 per cent stake in BPCL as the shares of the PSU jumped 12.65 per cent, or Rs 49.85, to Rs 443.90 on the Bombay Stock Exchange in expectation of a mega deal.
According to official sources, Saudi Aramco, Abu Dhabi National Oil Co (Adnoc), Rosneft of Russia, Exxon Mobil and RIL are likely to vie for the BPCL stake. The deadline for submitting EoIs (expression of interest) is July 31 after the government twice postponed the deadline. The government has barred Indian PSUs from bidding.
Analysts expect the BPCL scrip to move further north and the government can expect a valuation of Rs 1.2 lakh crore in terms of market capitalisation against present valuation of Rs 96,200 crore.
