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The government will sell 3 per cent stake in the two companies for Rs 1,300 crore

The government invited preliminary bids for a strategic sale of 26 per cent stake in BML, a state-owned defense agency, in addition to the transfer of control. The sale of 226 per cent shares at the current market price could bring about Rs 1,000 crore to the government exchequer. In addition, the government has planned to sell ten per cent stake in National Chemicals and Fertilizers Limited (RCFL) and has invited bids from merchant bankers and law firms to conduct the share sale process. By selling ten percent of the shares at the current market price, the government treasury will get around Rs 300 crore. Thus, the government can get a total of Rs 1300 crore.

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Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPM) tweeted, “The government has issued a memorandum to restructure BEML Limited’s 2 %% equity share capital, including the transfer of control.” According to the Preliminary Information Memorandum (PIM) issued by the Department of Investment and Public Asset Management (DIPAM), bidders will be able to submit an EOI by March 2 to buy a stake in BEML.

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BEML operates in the fields of defense, railways, electricity, mining and infrastructure. 201 operations-201. The total income of the companies from the companies in the financial year was Rs. 3,08.62 crore.

National Chemicals plans to sell a 10 percent stake

The Department of Investment and Public Asset Management (DIPM) said in a statement that merchant bankers and interested lawyers have to submit bids between January 28 and January 29, respectively.

The government owns 5 per cent stake in RCFL and plans to divest 10 per cent through sales (OSS). The merchant banker must advise the government on the timing and procedure of the sale offer. Also, better returns need to be ensured. Also, where necessary, assistance should be sought from regulatory agencies for clearances and exemptions. The government will hire two merchant bankers to handle the share sale process.

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