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Economy

Government plans to sell 5% in BEL; may fetch Rs 1,300 crore

Updated : July 25, 2018 07:27 AM IST

The government is planning to sell 5 percent stake in Bharat Electronics Ltd (BEL) through offer for sale, which could fetch about Rs 1,300 crore to the exchequer. The government currently holds 66.79 per cent 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 per cent stake sale plans in BEL, as per the Request for Proposal floated by the finance ministry.
Government plans to sell 5% in BEL; may fetch Rs 1,300 crore
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