Ashok Leyland Limited (NSEI:ASHOKLEY), Bharat Forge Ltd. (BSE:500493), Tata Motors Limited (BSE:500570), and Megha Engineering & Infrastructures Limited (MEIL) are among potential bidders shortlisted to buy a 26% stake in state-run defence equipment maker BEML Limited (BSE:500048), said two people aware of the matter. Others who made it to the shortlist could not be ascertained immediately. These four companies among others had submitted expressions of interest (EoIs) to purchase the government's stake in BEML.

After selection, they have been issued the request for proposal (RFP) document and given access to BEML's data room and production sites, said one of the two people cited above said, requesting anonymity. SBI Capital Markets Ltd. is the transaction adviser for BEML's divestment plan. The shortlisted firms were earlier asked to disclose any business ties with either China or Pakistan due to the strategic nature of BEML's operations.

A spokesperson for SBI Capital Markets declined comment. A spokesperson for Ashok Leyland in an emailed response said, "As a policy, we do not comment on speculation". A spokesperson for Tata Motors in an emailed response said, "We have no comments to offer on this at present.

Do note that as a policy, we don't comment on speculation".