Russia’s largest oil producer Rosneft is keen to bid for Bharat Petroleum Corp. Ltd (BPCL), people in the know told The Economic Times after its chief executive Igor Sechin met oil minister Dharmendra Pradhan on Wednesday.
National oil companies from West Asia, such as Aramco of Saudi Arabia and ADNOC of the United Arab Emirates, are also eyeing BPCL.
The government recently announced that it is selling all of its 53% stake in BPCL as part of its privatisation plan.
BPCL will give access to a readymade marketing network for refined products and boost refining capacity in India. The firm would give ready access to close to one-fourth of 67,440 petrol pumps in the country.
Meanwhile, Yes Bank, in a fresh attempt to raise $2 billion (Rs 14,250 crore at current exchange rate) through share sale, has picked Cantor Fitzgerald – a firm led by former Deutsche Bank global co-chief executive Anshu Jain -- and local investment banks IDFC Securities and Ambit Capital, two people in the know told The Economic Times.
The bank has been trying to raise money since the end of November last year. The plan, however, did not materialise after the bank rejected Canadian billionaire Erwin Singh Braich’s offer to buy $1.2 billion worth of shares.