Bharat Earth Movers

Coordinates: 12°58′17″N 77°39′34″E / 12.971403°N 77.659518°E / 12.971403; 77.659518

Bharat Earth Movers Limited (Hindi: भारत अर्थ मूवर्स लिमिटेड; IAST: Bhārat arth mūvars limiṭeḍ), now known as BEML (बी ई एम एल), is an Indian Public Sector Undertaking, with headquarters in Bengaluru. It manufactures a variety of heavy equipment, such as that used for earth moving, transport and mining.

History

BEML incorporated in May 1964, and commenced operations on 1 January 1965. It was wholly owned and operated by India's Ministry of Defence until 1992, when the government divested 25% of its holdings in the company. BEML is Asia's second-largest manufacturer of earth moving equipment, and it controls 70% of India's market in that sector. Its stock trades on the National Stock Exchange of India under the symbol "BEML", and on the Bombay Stock Exchange under the code "500048". The company went for Follow on Public offer (FPO) and fixed the price band for its FPO between Rs. 1,020 and Rs. 1,090.