The government has invited Expressions of Interest (EoIs) from domestic and foreign players for strategic sale of 26 percent of the equity stake in Bharat Earth Movers Limited (BEML), out of the 54.03 percent holding it has in the company.

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The Centre will also transfer management control to the buyer.

In 2017, the government had decided to separate the operational and non-operational lands and keep the surplus assets out of the scope of disinvestment. Accordingly, as per the Preliminary Information Memorandum (PIM), these land assets will not be a part of the transaction.

Here is all you need to know about BEML.

BEML is a 'Miniratna' Category-1 Central Public Sector Enterprise under the control of Defense Ministry. The government owns 54.03 percent stake in it. (NSE and BSE)

The government divested 25 percent stake in the company in 1992.

It manufacturers heavy equipment under three major business verticals: Mining and Construction, Defence and Aerospace, and Rail and Metro. BEML is Asia's second-largest manufacturer of earth-moving equipment and enjoys a 70 percent market share in the country.

For the quarter ended September 30, 2020, it's total income was Rs 670 crore with a net profit of over Rs 18 crore. It has an order book of Rs 10,610 crore. As of March 2019, it had over 7,185 employees.

It's nine manufacturing units are located in Bengaluru, Mysuru, Kolar, and Palakkad. Its regional officers are located throughout the country.

Its main competitors are private players such as Bombardier Transportation and Alstom.