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Ministry of Defence plans to decrease shareholding in Defence Public Sector Undertakings ANI | Updated: Mar 15, 2021 23:21 IST
New Delhi [India], March 15 (ANI): The Ministry of Defence on Monday informed that it is planning to decrease shareholding in Defence Public Sector Undertakings (DPSUs). The Government is planning to decrease shareholding in Defence Public Sector Undertakings (DPSUs) namely, BEML Limited, Garden Reach Shipbuilders and Engineers Limited (GRSE) and Mishra Dhatu Nigam Limited (MIDHANI). The completion of a transaction depends on market conditions. Therefore, it is not possible to predict a timeline, read the release by the Ministry.
The policy of disinvestment of minority stake without transfer of management control is being followed for priority sector including defence to unlock value, promote public ownership, meet the minimum public shareholding norms of SEBI and for ensuring a higher degree of accountability.
Express News Service
NEW DELHI: The government is planning to decrease its shareholding in three Defence Public Sector Undertakings (DPSUs) in the future but timeline for execution of this step is not decided yet.
Shripad Naik, Minister of State (MoS) for Defence on Monday informed, “The Government is planning to decrease shareholding in Defence Public Sector Undertakings (DPSUs) namely, Bharat Earth Movers Limited (BEML Ltd)., Garden Reach Shipbuilders & Engineers Limited (GRSE) and Mishra Dhatu Nigam Limited (MIDHANI).”
As for timeline, Naik said, “The completion of a transaction depends on market conditions. Therefore, it is not possible to predict a timeline.”
GRSE lays Keel of third advanced stealth frigate ship under Project 17A
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Last Updated: Mar 08, 2021, 08:10 PM IST
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Synopsis GRSE achieved a major milestone with the laying of the Keel of Yard 3024, a ship of the Advanced Stealth Frigate Project, P 17A, an official said.
PTI
The contract for construction of the three stealth frigates under Project 17A is the largest ever order awarded to the shipyard by the Ministry of Defence with a value of over Rs 19,293 crore
The keel of the third advanced stealth frigate ship under Project 17A, being built by Defence PSU Garden Reach Shipbuilders and Engineers Limited (GRSE) for the Indian Navy, has been laid, an official said here on Monday.
GRSE Lays Keel of 3rd Ship of Prestigious Project 17A Advanced Stealth Frigate
Posted On: 2021-03-06 04:51:36 (Time Zone: Arizona, USA)
Garden Reach Shipbuilders and Engineers Limited (GRSE) achieved a major milestone with laying of the Keel of Yard 3024 a ship of the Advanced Stealth Frigate Project, P 17A. As per GRSE tradition, the Keel was laid by a senior operative Shri. Mithailal Pasi, Structural Fitter of Shipbuilding Shop at the Main Works Unit of GRSE, in the august presence of Vice Admiral Sandeep Naithani, AVSM, VSM, Controller of Warship Production & Acquisition (CWP&A), Indian Navy and Rear Admiral GK Harish, VSM, Director General of Naval Design. The occasion was graced by Rear Admiral VK Saxena, IN (Retd.), Chairman & Managing Director, GRSE, Cmde. Sanjeev Nayyar, IN (Retd), Director (Shipbuilding), Cmde. PR Hari, IN (Retd), Director (Personnel) and Shri. RK Dash, Director (Finance)and other senior officials of the Indian Navy and GRSE.