InvestorQ : Is the government planning special concessions for BPCL divestment?
Angel dcosta made post

Is the government planning special concessions for BPCL divestment?

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Juvina Maggie answered.
6 months ago
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It seems the government is planning to make up to 100% sale in BPCL through automatic route possible for foreign investors, as a special case. In that case, overseas funds will not need government approval to buy 100% in the company. With a $24 billion divestment target for FY22, the sale of the 53% stake in BPCL is an important step to this target. BPCL had reported net profits of Rs.11,940 crore in Mar-21 quarter.

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