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LIC may acquire 5% stake in BHEL

The proposal initiated by the heavy industries & public enterprises ministry is now being processed by the finance ministry

February 26, 2014 5:17 IST | India Infoline News Service
Life Insurance Corporation (LIC) is likely to acquire 5% stake in power equipment maker BHEL in a block deal, according to a media report.

The proposal initiated by the heavy industries & public enterprises ministry is now being processed by the disinvestment and financial services department of the finance ministry, the report added.

The ministry has been opposed to stock market sale of BHEL's share by the government under its disinvestment programme that has been drastically pruned to Rs19,027 crore from Rs54,000 crore budgeted initially, the report further said.

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