WED 20 Oct, 2021

Now Bharat Heavy Electricals Ltd is up for sale by Govt of India

The central government is considering Bharat Heavy Electricals Ltd (Bhel), Mecon Ltd and Andrew Yule and Co. Ltd among candidates for the next round of disinvestment pick, said two people aware of the development, requesting anonymity.

SBI Capital Markets Ltd, the adviser to the proposed stake sale in Bhel, recently submitted its report to the department of investment and public asset management (Dipam) on the plan. This will help the government’s thinking on whether to proceed with the stake sale in India’s largest power equipment maker and the amount of stake that would be sold.SBI Capital is also advising Dipam on the proposed stake sales in Mecon and Andrew Yule. The department of heavy industry is the nodal ministry for both Bhel and Andrew Yule, while Mecon falls under the steel ministry.The government to garner ₹1.75 trillion from disinvestment receipts next fiscal. It has been missing its disinvestment targets, and of the ₹2.1 trillion disinvestment goal for this fiscal, it has been able to raise just ₹15,220 crore as on 20 January, with key transactions such as that of Air India Ltd and Bharat Petroleum Corp. Ltd (BPCL) pushed to next year.

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