Synopsis
The government is aggressively going ahead with privatisation of state-run companies such as Bharat Petroleum Corporation Limited, Container Corporation of India, Shipping Corporation of India and Air India.
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The government will disinvest 26% equity share capital of Bangalore-based public sector enterprise Bharat Earth Movers Limited (BEML) out of its shareholding of 54.03% along with management control.
The department of investment and public asset management (DIPAM) has set the minimum net worth requirement for bidders at Rs 1400 crore, and has kept the last date for submitting bids at March 1, 2021. Disinvestment will be through a two stage competitive bidding process, the department said in the preliminary information memorandum issued on Sunday.