CCEA nods for disinvestment of 26% govt stake in BEML

06/01/2017 16:45

Public sector defence establishment BEML Ltd on Friday said the Cabinet Committee on Economic Affairs (CCEA) has provided ‘in-principal’ approval for strategic disinvestment of 26 per cent equity shares of Government of India in the company.

Currently, Government of India has 54.03 per cent shareholding in BEML Ltd.

In a filing to the Bombay Stock Exchange, the company said, “The Government of India, Ministry of Defence, has communicated ‘in-principal’ approval of the Cabinet Committee on Economic Affairs (CCEA) of the Government of India, for strategic disinvestment of 26 per cent equity shares in BEML Limited out of Government of India shareholding of 54.03 per cent.”

“The said shareholding would be sold to the strategic buyer/s to be identified by the Government of India by following due procedure,” it added.

Meanwhile, shares of the company closed flat at Rs 999.50 apiece from previous close on BSE.

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