BEML gets 'in-principle' approval for divestment of GoI's 26% stake

Cabinet Committee on Economic Affairs gives nod to stake sale

BEML on Friday announced the Government of India, Ministry of Defence, had communicated 'in-principle' approval of the Cabinet Committee on Economic Affairs (CCEA) for strategic disinvestment of 26% equity shares in BEML out of Government of India's shareholding of 54.03%. The said shareholding would be sold to the strategic buyer(s) to be identified by the Government of India by following due procedure.