The sole bid coming from Indian Oil Corporation (IOC) for a stake at Haldia Petrochemicals (HPL) would be opened on Thursday. IOC had placed its bid for the 31% of Haldia Petrochemicals stake, according to The Economic Times report. A considerable speculation in corporate circles showed that the chances to reach a successful deal for the state-owned refiner was high, said The ET report.
Chairman Mukesh Ambani of Reliance Industries (RIL) had been in talks with Chief Minister Mamata Banerjee about the stake of IOC. The rounds of discussions took place in Mumbai a few months ago which was believed to have covered the issue, reported ET. However, Reliance Industries had not palced any bid for the HPL stake. This was confirmed by both RIL officials and the state government to ET last Wednesday.
ONGC and Cairn India of Vedanta Group had decided to stay out of the Haldia Petrochemicals bidding process. IOC by default remained the sole bidder for the Haldia stake and would remain up to the government to decide whether the bid would be accepted or not, said The Economic Times report.
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