At least six companies, including Tata Motors Ltd, Mahindra and Mahindra Ltd and Ashok Leyland Ltd, are looking to buy a 26% stake in state-run defence equipment maker BEML Ltd, two people aware of the developments said. Bharat Forge Ltd and Megha Engineering and Infrastructure Ltd may also submit expressions of interest for the government’s stake in BEML, the people said on condition of anonymity. Spokespeople for SBI Capital Markets, Mahindra and Mahindra Ltd and Ashok Leyland Ltd declined to comment. A spokesperson for Megha Engineering confirmed the company’s interest in BEML but declined to elaborate. The stake sales in BEML will help bolster the government’s efforts to raise funds via asset sales for the next fiscal year.

Source: Hindustan Times March 07, 2021 18:02 UTC