BEML Limited, formerly Bharat Earth Movers Limited, is an Indian public sector undertaking which manufactures a variety of heavy equipment, such as that used for earth moving, railways, transport and mining. It is headquartered in Bangalore. BEML is Asia's second-largest manufacturer of earth moving equipment. Its stock trades on the National Stock Exchange of India under the symbol "BEML", and on the Bombay Stock Exchange under the code "500048". BEML incorporated in 11th May 1964, with the help of the Soviet Union. It was wholly owned by the government and operated by India's Ministry of Defence until 1992, when the government divested 25% of its holdings in the company. The company went for Follow-on Public offer (FPO) and fixed the price band for its FPO between ₹1,020 and ₹1,090. The Government of India had given 'in-principle' approval for strategic disinvestment of BEML Ltd. to the extent of 26% out of the Government shareholding of 54.03% with transfer of management control to strategic buyer. More information...
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