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Money News

India will not extend deadline for BPCL bids - sources

NEW DELHI (Reuters) - The Indian government has received a “sufficient and good response” regarding the privatisation of state refiner Bharat Petroleum Corp Ltd and will not extend the deadline for private firms submitting initial bids, two sources said on Monday.

The government had extended the deadline for bids for BPCL, one of India’s most profitable state-owned companies, as the pandemic delayed the process that was initially expected to be completed by October.

The deadline to submit bids to buy the government’s entire stake in BPCL is Nov. 16.

Reporting by Nidhi Verma and Aftab Ahmed; editing by Jason Neely

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