Review meet on disinvestment, privatisation of defence PSUs on Monday

The plan to bring down the government's shareholding and the broad timeline for the sale would be shared with the ministry

Defence Minister Rajnath Singh will chair a meeting on Monday to review the divestment and privatisation of defence public sector undertakings (PSUs).

The minister would be apprised of the progress made in the privatisation of BEML where the government is looking to sell 26 per cent of the 54 per cent it holds along with transfer of management control. Based on the share price of the company, selling a 26 per cent stake to a strategic buyer could fetch the government around Rs 1,440 crore.

The government will soon approve the draft request for proposal and the share purchase agreement to privatise