Government to divest 26% shares of BEML

Indian Government has announced to divest 26 percent of its total equity shares in BEML.

In a filing with the exchange, BMEL said, “The Government of India (GoI) has decided to disinvest 26 percent of the total equity share capital of our company through strategic disinvestment with the transfer of management control.”

“The government has appointed SBI Capital Market Limited (SBICAP) as its transaction advisor to advise and manage the strategic disinvestment process. The aforesaid disinvestment process is to be implemented through an open competitive bidding route,” the statement added.

The government of India currently holds 54.03 percent of the total equity share capital of BEML.