Stakes In MIDHANI, Garden Reach To Be Divested By Government
The government has decided to sell its stakes in defense PSUs, Garden Reach Shipbuilders & Engineers Ltd, and Mishra Dhatu Nigam Ltd (MIDHANI). The government at present holds a 74.5 percent stake in Garden Reach Shipbuilders and 74 percent in MIDHANI. The government has also invited bids to sell its 26 percent stake in BEML.Â
The move is as per the government’s policy of disinvestment of minority stake without transfer of management control in priority sector including defense CPSUs (Central Public Sector Units). Minister of State for Defence, Shripad Naik said that it would unlock value and promote public ownership.