The Centre on Sunday invited expression of interest (EoI) from strategic investors for 26 per cent stake in BEML, along with management control, adding one more central public sector enterprise (CPSE) to the pipeline of state-owned firms being put on the block. The last date for filing EoI for BEML is March 1, 2021.
At current market prices, the 26 per cent stake in BEML is worth about Rs 1,055 crore. Currently, the Centre holds 54.03 per cent in the CPSE, which was formerly known as Bharat Earth Movers.
The balance stakes are held by mutual funds (19.21 per cent), individuals (15.74 per cent), foreign portfolio investors and financial institutions. The buyer of 26 per cent in BEML will have to make an open offer to buy another 26 per cent in the company, according to Sebi rules.
