<p>The government may take a fresh look at BPCL privatisation, including revising the terms of sale, an official said.</p>.<p>"We need to go back to the drawing board on BPCL. There are issues in terms of consortium formation, geopolitical situation and energy transition aspects," an official said. </p>.<p>The government is selling its entire 52.98 per cent stake in BPCL for which three expressions of interest (EoIs), including one from billionaire Anil Agarwal-led Vedanta Group, have been received.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/bpcl-teams-up-with-microsoft-to-leverage-cloud-ai-technologies-1100708.html">BPCL teams up with Microsoft to leverage cloud, AI technologies</a></strong></p>.<p>Financial bids are yet to be invited.</p>.<p>The official said the transition towards green and renewable fuel has made privatisation difficult in existing terms.</p>.<p>"The total stake that may be offered to potential buyers too needs a rethinking in current conditions and easing of terms to help investors in forming a consortium," the official said.</p>.<p>An email sent to the Finance Ministry seeking comments on the story did not elicit a response. </p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/bpcl-to-explore-green-energy-possibilities-in-odisha-1100050.html">BPCL to explore green energy possibilities in Odisha</a></strong></p>.<p>At the current market price, the 52.98 per cent stake is valued at about Rs 45,000 crore.</p>.<p>The government invited Expression of Interest from bidders in March 2020 for selling BPCL and by November 2020 at least 3 bids had come in.</p>.<p>The three bidders -- Vedanta, private equity firms Apollo Global and I Squared Capital's arm Think Gas -- were thereafter allowed physical inspection of assets such as refineries and depots as part of the due diligence process.</p>.<p>The government was to seek financial bids once bidders completed due diligence and the terms and conditions of the share purchase agreement were finalised. </p>.<p>The government has pegged disinvestment receipts at Rs 65,000 crore in the current fiscal, up from Rs 13,531 crore mopped up last fiscal.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>The government may take a fresh look at BPCL privatisation, including revising the terms of sale, an official said.</p>.<p>"We need to go back to the drawing board on BPCL. There are issues in terms of consortium formation, geopolitical situation and energy transition aspects," an official said. </p>.<p>The government is selling its entire 52.98 per cent stake in BPCL for which three expressions of interest (EoIs), including one from billionaire Anil Agarwal-led Vedanta Group, have been received.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/bpcl-teams-up-with-microsoft-to-leverage-cloud-ai-technologies-1100708.html">BPCL teams up with Microsoft to leverage cloud, AI technologies</a></strong></p>.<p>Financial bids are yet to be invited.</p>.<p>The official said the transition towards green and renewable fuel has made privatisation difficult in existing terms.</p>.<p>"The total stake that may be offered to potential buyers too needs a rethinking in current conditions and easing of terms to help investors in forming a consortium," the official said.</p>.<p>An email sent to the Finance Ministry seeking comments on the story did not elicit a response. </p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/bpcl-to-explore-green-energy-possibilities-in-odisha-1100050.html">BPCL to explore green energy possibilities in Odisha</a></strong></p>.<p>At the current market price, the 52.98 per cent stake is valued at about Rs 45,000 crore.</p>.<p>The government invited Expression of Interest from bidders in March 2020 for selling BPCL and by November 2020 at least 3 bids had come in.</p>.<p>The three bidders -- Vedanta, private equity firms Apollo Global and I Squared Capital's arm Think Gas -- were thereafter allowed physical inspection of assets such as refineries and depots as part of the due diligence process.</p>.<p>The government was to seek financial bids once bidders completed due diligence and the terms and conditions of the share purchase agreement were finalised. </p>.<p>The government has pegged disinvestment receipts at Rs 65,000 crore in the current fiscal, up from Rs 13,531 crore mopped up last fiscal.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>