The Government is planning to decrease shareholding in Defence Public Sector Undertakings (DPSUs) namely, BEML Ltd., Garden Reach Shipbuilders & Engineers Limited (GRSE) and Mishra Dhatu Nigam Limited (MIDHANI). The completion of a transaction depends on market conditions. Therefore, it is not possible to predict a timeline.
Details of PSUs making defence-related equipment in which Government has already decreased its shareholding and funds collected by decrease in shareholding through each one of the PSUs in last five year:-
|Name of Defence PSU in which Government has decreased its shareholding in last five years||Funds collected (in Rs. Crore) by decrease in shareholding by various modes (ETF/IPO/OFS/Buyback-BB) and combinations thereof in last five years|
|Bharat Electronics Limited (BEL)||8073.29|
|Bharat Dynamics Limited (BDL)||2371.19|
|Hindustan Aeronautics Limited (HAL)||14184.70|
|Mishra Dhatu Nigam Limited (MIDHANI)||434.14|
|Garden Reach Shipbuilders & Engineers Ltd. (GRSE)||420.52|
|Mazagon Dock Shipbuilders Limited (MDL)||974.15|
The policy of disinvestment of minority stake without transfer of management control is being followed for priority sector including defence to unlock value, promote public ownership, meet the minimum public shareholding norms of SEBI and for ensuring a higher degree of accountability.
This information was tabled in a written reply by Raksha Rajya Mantri Shri Shripad Naik to a question asked by Dr Santanu Sen in Rajya Sabha today.