Bhel OFS opens for non-retail investors; govt to sell up to 5% stake

The Centre has announced an Offer for Sale in BHEL to divest up to a 5 per cent stake, with bids opening for non-retail investors on Wednesday and retail investors on Thursday

The government on Tuesday announced the launch of an Offer for Sale (OFS) in state-run Bharat Heavy Electricals Limited (BHEL) to divest up to a 3 per cent equity stake, with an additional 2 per cent available through a green shoe option. The Department of Investment and Public Asset Management (DIPAM) said in a statement on social media platform X that the OFS for non-retail investors will open on Wednesday, while retail investors can place their bids on Thursday.

 

The proposed stake sale is part of the Centre’s disinvestment programme for the current financial year. As per data available on the DIPAM disinvestment receipts portal, the government has so far raised about Rs 8,768 crore in FY26 through minority stake sales and other receipts. The final amount to be raised through the BHEL OFS will depend on investor response and the exercise of the green shoe option.

 

BHEL is a major public sector undertaking under the Ministry of Heavy Industries and plays a key role in India’s power and infrastructure sectors. Separately, the company has received a Letter of Acceptance (LoA) from Bharat Coal Gasification and Chemicals Limited (BCGCL) for a project worth around Rs 2,800 crore, excluding customs duty and goods and services tax.

 

BCGCL is a joint venture between Coal India Limited, which holds a 51 per cent stake, and BHEL, which owns the remaining 49 per cent. The order relates to the syngas purification plant under the LSTK-2 package for BCGCL’s coal-to-2,000-tonnes-per-day ammonium nitrate project at Lakhanpur in Odisha’s Jharsuguda district.

 

As part of the contract, BHEL will handle design and engineering, supply of equipment, civil works, erection and commissioning, along with operations and maintenance services. Shares of Bharat Heavy Electricals Ltd ended 0.53 per cent higher at Rs 276.05 on the BSE, gaining Rs 1.45 during the session.

 

The Union Budget 2026–27 has set a disinvestment target of Rs 80,000 crore under miscellaneous capital receipts, which includes the sale of shares in public sector undertakings (PSUs) and asset monetisation. However, in the financial year 2025–26 (FY26), the government fell short of its budgeted target of Rs 47,000 crore, prompting a downward revision to Rs 33,837 crore in the Revised Estimates (RE). 

Sebi tightens disclosure norms for rating agencies 

 

The Securities and Exchange Board of India (Sebi) has tightened disclosure and governance norms for credit rating agencies (CRAs) undertaking ratings of financial instruments regulated by authorities other than Sebi. The move is to prevent investor confusion and ensure clearer segregation of responsibilities. The regulator has clarified that CRAs must ensure their minimum net worth requirement under Sebi regulations remains unaffected by any rating activity carried out for instruments regulated by other authorities.

 

Day 2: Fractal Analytics’ IPO subscribed 20%

 

Fractal Analytics’ ₹2,834 crore initial public offering (IPO) on Tuesday drew a muted response from the investors as its shares for bid saw 20 per cent subscription. The quota for Retail individual investors (RIIs) booked 60 per cent, while the portion for non-institutional investors (NIIs) subscribed 27 per cent. Meanwhile, Aye Finance garnered 16 per cent subscription for its ₹1,010 crore IPO on Tuesday.