The Government is planning to sell 5% stake in Bharat Electronics (BEL) through offer for sale, which could fetch about Rs 1,300 crore to the exchequer. The government currently holds 66.79% in the Defence PSU. The government has invited bids from merchant bankers by August 14. Up to 3 bankers will be appointed for taking forward the 5% stake sale plans in BEL.
Earlier, the government had sold 5% stake in BEL in February 2017 to garner Rs 1,600 crore.
BEL is a multi-product, multi-technology, multi-unit conglomerate with over 350 products in the areas of military communication, radars, naval systems, C4I systems, weapon systems, homeland security, telecom & broadcast systems, electronic warfare, tank electronics, electro-optics, professional electronic components and solar photovoltaic systems.
| Company Name | CMP |
|---|---|
| Hindustan Aeron | 4387.10 |
| Bharat Electronics | 462.70 |
| DCX Systems | 194.75 |
| Astra Microwave Prod | 1092.10 |
| Zen Technologies | 1614.35 |
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