BEML shares zoom almost 8% as govt invitations preliminary bids for 26% stake sale

Image Source : PTI BEML shares zoom almost 8% as govt invitations preliminary bids for 26% stake sale
Shares of BEML jumped almost 8 per cent in early commerce on Monday after the federal government invited preliminary bids for strategic sale of 26 per cent stake together with switch of administration management within the defence PSU.
The inventory gained 7.77 per cent to Rs 1,050 on the BSE. On the NSE, it zoomed 7.74 per cent to Rs 1,051.
“Govt has issued the PIM/EOI for disinvestment of 26 per cent fairness share capital of BEML Ltd together with switch of administration management.

Disinvestment can be by means of a two stage aggressive bidding course of,” DIPAM Secretary Tuhin Kanta Pandey tweeted on Sunday.
Bidders can submit their Expression of Interest (EoI) for purchasing the stake in BEML by March 1, as per the Preliminary Information Memorandum (PIM) issued by the Department of Investment and Public Asset Management (DIPAM).
BEML is concerned in sectors like defence, rail, energy, mining and infrastructure.
Latest Business News