Why has the privatisation of BPCL been such a hard sell so far?
Last week, when India’s 3rd largest refiner decided to sell a large chunk of its treasury stocks in the market, the brisk response from institutional investors prompted the company and its bankers to upsize the issue to Rs 5,525 crore ($750 million) from the plan initial of $500 million. Within 12 hours, 126 million shares … Read more