Indian Oil keen to bid for Bengal govt's HPL shares

Indian Oil Corporation (IOC) would be keen to participate in the bidding process to acquire Bengal government's stake in cash strapped Haldia Petrochemicals, as per Business Standard. Indian Oil already has an 8.89% stake in HPL by virtue of a Rs 150-crore investment made in 2004. Bengal government which holds close to 40% stake in HPL has started its share sale drill and has appointed Delloite India to execute the divestment plan and a valuation process is going on.
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