Centre to invite bids for offloading 25% in BEML
Completed listing process of demerged BEML Land Assets; New entity listed on April 19; Stake sale will fetch Rs1,500 cr to the exchequer
New Delhi: The government may soon invite financial bids for strategic sale of defence PSU BEML after its non-core business got listed on the bourses last month. In January 2021, the government invited preliminary bids for selling 26 per cent stake in BEML along with the management control. It received multiple expressions of interest (EoIs) for the sale.
Following that in October last year, BEML demerged its non-core businesses into BEML Land Assets and listed the new company on the bourses on April 19, 2023.
“The listing of land and other non-core assets is complete. Now, we will soon invite financial bids for the core assets, which is construction and defence related,” an official told PTI. BEML is a diversified company supplying product, services and support to defence & aerospace, mining & construction, and rail & metro for clients within and outside India.
The government currently holds 54.03 per cent stake in BEML, which is a public-sector undertaking under the defence ministry. At the current market price, sale of the government’s 26 per cent stake in BEML will fetch around Rs1,500 crore to the exchequer.
