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As per a media report, the government has given approval for 26% stake sale in BEML.
BEML, which is a Miniratna Category-1, has 3 main business verticals .i.e. mining & construction, defense and rail & metro. These 3 verticals are serviced by 9 manufacturing units located at Bangalore, Kolar Gold Fields (KGF), Mysore, Palakkad and Subsidiary – Vignyan Industries Ltd, in Chikmagalur district.
The government of India, has given an in-principle approval to sell its 26% stake in the company. At present, Government of India has 54% stake in the company and the remaining 46% is held by public, financial institutions, foreign institutional investors, banks and employees.
