Govt weighs selling part of BPCL instead of full stake: Report

India is considering selling up to a quarter of state-run refiner Bharat Petroleum Corp Ltd after failing to attract suitors for the whole firm, two officials said, as the government's divestment programme moves slower than expected. New Delhi is considering inviting bids for a 20-25 percent stake in BPCL, instead of an outright sale of its entire 52.98 percent holding, the two government officials, who declined to be named, told Reuters.

The officials said discussions about the plan were in the early stages. Initially, the government had aimed to raise $8-$10 billion from selling its full stake in BPCL. Having drawn up plans four years ago, it invited bids in 2020, hoping major players such as Russia's Rosneft might be interested.