India extends deadline for initial bids to buy state-owned BPCL

  • Reuters
  • Stock Market News
India extends deadline for initial bids to buy state-owned BPCL
Credit: © Reuters.

NEW DELHI, Sept 30 (Reuters) - India said on Wednesday it has extended the deadline for submitting initial bids to buy state-owned Bharat Petroleum Corp Ltd BPCL.NS to Nov. 16.

"In view of further requests received from the interested bidders and the prevailing situation arising out of COVID-19 pandemic, the last date for submission of EoIs (Expression of Interest) is further extended to 16th November," the government said in a statement.

Reuters has cited sources saying India's efforts to privatise refiner BPCL could spill over into the next fiscal year and global players such as Saudi Aramco (SE: 2222 ) and Russia's Rosneft ROSN.MM may not participate in the bid.

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