Govt plans to offload 10% stake in Bhel
New Delhi: The government on Friday said it is considering offloading 10% of its equity stake in navratna public sector unit Bhel. "The point of disinvestment (in Bhel) is still under consideration... the government has definitely a positive thinking on that line," minister of heavy industries and public enterprises Vilasrao Deshmukh said when asked whether the government is considering divesting 10% in the company. Addressing his first conference after taking charge as the Cabinet minister, Deshmukh said his department would back the disinvestment policies of the government. The government, if it chooses to further disinvest its stake in the company, will have to come with a follow-on public offer. The government at present holds a 67.72% equity stake in power equipment maker Bhel, which would come down to 57.72% if it divests 10% equity. Vilasrao Deshmukh while announcing the 100-day agenda for its department said that Bhel would enter into an agreement with Indian Railways for supply of stainless steel EMU coaches on a long term basis. PTI --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
