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BEML Disinvestment News: The central government may soon invite bids for the strategic sale of BEML, a government company in the defense sector. According to a news from the news agency PTI, only last month the company’s non-core business has been listed on the stock exchanges and now after that there is a preparation to sell about 26 per cent stake.
Received such a response 2 years ago
The government had first invited initial bids in January 2021 to sell 26 per cent stake in BEML with control over the management. Then the government had received several bids ie EOI to buy the company’s stake. After that, in October last year, BEML had separated its non-core business under the name BEML Land Assets.
New company listed in the market
Now the new company i.e. BEML Land Assets has been listed in the market. This company was listed on the stock exchanges on 19 April 2023. BEML is a government company under the Ministry of Defense, in which the government currently holds about 54.03 per cent stake. The government expects to get around Rs 1,500 crore from the 26 per cent stake sale at the current market value.
These properties will be sold
The PTI report quoted an official as saying that the company’s plots and other non-core assets have already been listed in the open market. Now we will soon invite financial bids for major assets, which are related to construction and defence.
Great company in its field
The Union Cabinet had approved the proposal for strategic disinvestment and transfer of management of BEML in the year 2016. The company manufactures a variety of equipment for the military forces. Apart from this, BEML also manufactures many types of equipment for railways and metro. BEML is currently the second largest Earth Moving Equipment Manufacturer company in Asia.
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