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Motilal Oswal Report
Subsequent to the previous extension of the deadline for the submission of Expression of Interest (EoI) for buying out the government's stake in Bharat Petroleum Corporation Ltd. to July 31, 2020, the government has once again extended the deadline to September 30, 2020.
The Department of Investment and Public Asset Management (DIPAM) has not mentioned much besides citing ‘further requests received from the Interested Bidders and the prevailing situation arising out of Covid-19' as the reason for the same.
While Covid-19-related lockdown has certainly slowed the movement of personnel, the extension also brings to the forefront the challenges we had highlighted in our earlier reports.
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