Business
‘Vedanta’ interested in buying shares of ‘Bharat Petroleum’
Vedanta has said they are interested in buying shares in the central government-owned Bharat Petroleum. The central government is actively trying t…
New Delhi: Vedanta has said they are interested in buying shares in the central government-owned Bharat Petroleum.
The central government is actively trying to sell its stake in Bharat Petroleum Corporation, also known as BPCL. The central government holds 52.98 percent stake in the company. Companies interested in buying government shares can submit their initial preference, with a deadline of Nov. 16 announced.
In this case, Vedanta has expressed its desire to buy the shares. Vedanta is interested in buying shares in Bharat Petroleum, which is already involved in the oil and gas business and is involved in the related fuel retail business.
It was expected that many would come forward to buy shares of Bharat Petroleum, which ranks second in fuel retail. But many large companies, including Reliance, Saudi Aramco, Total, BP, have not come forward to buy anything. In this context, it is noteworthy that Vedanta is currently offering to buy shares.