Govt to sell up to 5% in Bhel at ₹254 per share; OFS opens Wednesday
The issue will open for non-retail investors on Wednesday, while retail investors will get to put in price bid on Thursday
 "Govt to sell up to 5% in Bhel at ₹254 per share; OFS opens Wednesday")
The government will sell up to 5 per cent stake in Bharat Heavy Electricals Ltd (BHEL) via an offer for sale (OFS) beginning on Wednesday at a floor price of ₹254 a share.
"Government offers to disinvest 3 per cent equity in the BHEL with an additional 2 oer cent as green shoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said on X.
The issue will open for non-retail investors on Wednesday, while retail investors will get to put in price bid on Thursday.
If fully subscribed at the floor price, sale of 17.41 crore shares, or 5 per cent stake, would fetch the government ₹4,422 crore.
The floor price of ₹254 a share is about 8 per cent below BHEL's closing share price of ₹276.05 on the BSE.
The base issue size comprises over 10.44 crore shares, or 3 per cent stake, in BHEL, plus a greenshoe option to sell over 6.96 crore shares or 2 per cent.
The government holds 63.17 per cent in BHEL. Shares of BHEL closed at ₹276.05, up 0.53 per cent over its previous close on Tuesday.
So far in the current fiscal year, the government has raised ₹8,768 crore through PSU disinvestments.
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