India sets up sale of BEML

摘要

New Delhi has initiated plans to divest an additional 26% stake in state-controlled defence company BEML Limited, formerly Bharat Earth Movers Limited. The sale, which offers investors management and control of the firm, will progress through a 'preliminary information memorandum' issued by the Ministry of Defence (MoD) on 4 January. The sale is expected to be worth about INR10 billion (USD137 million).