BEML, Garden Reach, Mishra Dhatu on block

The government is looking to divest BEML Ltd, Mishra Dhatu Nigam Ltd, and Garden R each Shipbuilders & Engineers Ltd, Minister of State f or Defence Shripad Naik said in Rajya Sabha.

"Policy of disin vestment of minority stak e without transfer of management control is being followed for priority sector inc luding defence central PSUs to unlock value, promote pub lic ownership, to meet the minimum pub lic shareholding norms of Securi ties and Exchange Boar d of India and for ensuring higher degree of accounta bility," Naik said in response to a question in Rajya Sabha.

For the non-priority sector where competitive markets have come of a ge, the policy of stra tegic disinvestment is f ollowed, he said. In J anuary, the go vernment invited f resh bi ds to sell its 26% stak e in BEML Ltd.

The government cur rently holds 54.03% in the com - pany.

The government had earlier invited bids to a ppoint merchant bank ers f or divesting 10% stak e eac h in Mishra Dha tu Nig am and Garden Reach Shipbuilders & Engineers through the offer-for-sale route.