Government invites bids for selling 26% in BEML

BEML, a public sector undertaking under the defence ministry, is currently owned by the government with 54.03 percent.

Following that, BEML merged its non-core businesses into BEML Land Assets on April 19, 2023 and listed the new company on the grants. Earlier this month, BEML's non-core business was listed on grants, suggesting a possible sale.

An invitation for preliminary bids was issued by the government in January 2021 to sell 26 percent of BEML. Several expressions of interest (EoIs) were received. On April 19, 2023, BEML Land Assets was listed on the grants after merging its non-core businesses into BEML Land Assets.

"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 said. For clients within and outside India, BEML provides products, services and support to defence & aerospace, mining & construction, and rail & metro.

BeML, a public sector undertaking under the defence ministry, currently has 54.03 percent government ownership. A sale of the government's 26 percent stake in BEML would fetch around Rs 1,500 crore to the exchequer. The Union Cabinet approved the strategic disinvestment in 2016 along with the transfer of management control.