BEML, MIDHANI set for disinvestment

New Delhi: Defence public sector undertakings BEML, GRSE Ltd and Mishra Dhatu Nigam are set for disinvestment, the government said in Rajya Sabha on Monday.

The defence ministry is aiming at divesting parts of the state-run defence sector companies to enhance their efficiency in sync with the government's broader objective of boosting indigenous production of military hardware and weapon systems.

"Defence Public Sector Undertakings (DPSUs) set for disinvestment are BEML Ltd, Garden Reach Shipbuilders & Engineers Limited (GRSE) and Mishra Dhatu Nigam Limited (MIDHANI)," Minister of State for Defence Shripad Naik said in a written reply in Rajya Sabha.

He said the policy of disinvestment of minority stake without transfer of management control is being followed for priority sector including DPSUs to unlock value and promote public ownership.

"Policy of disinvestment of minority stake without transfer of management control is being followed for priority sector including defence PSUs to unlock value, promote public ownership, to meet the minimum public shareholding norms of SEBI (Securities and Exchange Board of India) and for ensuring higher degree of accountability," Naik said.