BEML FPO on June 27

Mumbai, June 20 (UNI) Bharat Earth Movers Limited (BEML) is entering the capital market on June 27 with its Follow on Pubic Offer (FPO) of 49 lakh equity shares of Rs 10 each for cash at a price to be decided through a 100 per cent book building process.

The price band shall be decided at least one day prior to the issue opening date. The issue closes for subscription on July 3.

BEML CMD V R S Natarajan told reporters here today that BEML has recently expanded its product range to cover high-quality hydraulics, heavy-duty diesel engines, welding robots and heavy fabrication jobs.

BEML has also recently opened representative offices in Singapore and Shanghai. It has also set in motion its offshore expansion plans and signed a Memorandum of Understanding (MoU) for establishing a joint venture company in Brazil with Companhia Comercio E Construcoes (CCC) for manufacture and supply of rail wagons and bogies,,mining and construction equipment and spares for the Brazilian market.

It has a healthy order book position of Rs 1200.74 crore as of February 28, Mr Natarajan said.

UNI