State-owned Indian Oil Corporation (IOC), which already owns more than eight per cent in Haldia Petrochemicals limited (HPl), on Mondya emerged as the sole bidder with an offer of less than Rs 3,000 crore for West Bengal government’s stake in the ailing company.
The state government, however, decided not to open the bid pending further discussions between the Group of Ministers (GoM) on the sole bid.
State industry minister Partha Chatterjee told reporters here “the bid has not been opened. We are not in a hurry. We want to do transaction in a transparent manner”.
A source associated with today’s development told the news agency that the Government has four days time to open the bid. “Before that, the GoM will have to decide on the reserve price”.