Vedanta Group Aims To Raise $8 Bn Fund To Acquire Stake In BPCL

London-based natural resource company Vedanta group is planning to raise $8 billion to acquire Bharat Petroleum Corporation Limited. Moreover, it has also approached JP Morgan to seal the deal. Earlier in November, the group had vowed to buy the government 53% stake in BPCL. By divesting the assets of BPCL, the government expects to raise nearly Rs 45,000 crore, which will be utilized to revamp the Covid-19 stricken economy.