BEML – Disinvestment

One risk taken out: no liabilities in the books of BEML land assets ltd except for 1 cr borrowing from BEML.

They have valued the assets by a valuer: 2325.37 cr

Hope it is conservatively valued. It would be great if we can get hold of that valuation report.

Now, we need to know the plans govt for these assets.

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From Q4FY23:
Book value of land Rs. 636.58 Lakhs and buildings Rs. 327.89 Lakhs identified for demerger as per the MCA approved Scheme of Arrangement filed with ROC have been transferred from BEML Ltd to BLAL on the Appointed date i.e., 25.08.2022

2 Land & Buildings have been carried as Investment property as per Ind AS-40. In line with the disclosure requirements under Ind AS-40, the fair values of the property valued at Rs. 232537 Lakhs as per the report of a certified valuer have been disclosed in the Financial Statements. Buildings have been depreciated as per Companies Act, 2013. The process of transfer of Title Deeds from BEML to BLAL have been initiated and are in progress

3

The authorized Share capital of the company has been increased to Rs 50 crores of Equity Shares of face value of Rs 10 each. The company has issued Equity shares in BLAL to the shareholders of BEML in the ratio of 1:1, based on the record date of 9th September 2022 as per the MCA approved Scheme of arrangement. Issued & Paid up Equity Share Capital as on 31.03.2023 is Rs. 4164.45 Lakhs consisting of 416.445 lakhs shares @Rs. 10 each

4 The BLAL Equity shares have been listed in the Stock Exchanges viz BSE/NSE on 19 April 2023.

5 Amounts paid by BEML Ltd on behalf of BLAL has been treated as Inter-Corporate Loan and interest on the same has been applied as approved by the BEML & BLAL Board

Disc: invested. 2.5% of PF. May avg Down at around 150 rs or below.