Union Government expects Rs 90,000 crore from BPCL stake sell

Government is expecting Rs 90,000 crore from the disinvestment process of BPCL which is double the valuation of the stock. The potential buyer will get a 52.98% stake in BPCL and get access to a 25.77% market share in India’s fuel retailing segment. India has so far raised around ₹12,225 crore from divestment proceeds. Currently, Vedanta Group, Apollo Global and I Squared Capital have submitted their EOIs for BPCL. The government’s target price for its 52.98% stake is based on the value of BPCL’s asset valuation.