The Cabinet is likely to clear the 5 per cent disinvestment proposal in capital goods major BHEL (Bharat Heavy Electricals Limited) on Tuesday. In May, the company's board had approved the divestment in a board meeting.
The offloading of government's 5 per cent stake in BHEL is a part of the Centre's ambitious programme to mop up Rs. 40,000 crore through public sector disinvestment in the current fiscal.
Currently, the government owns 67.72 per cent stake in the company. BHEL is the 12th largest power equipment manufacturer in the world. 74 per cent of the total power generated in India is produced by equipment manufactured by BHEL.
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