New Delhi: The Government of India has announced plans to sell a 3 percent stake in Bharat Heavy Electricals Ltd (BHEL) through an Offer for Sale (OFS) as part of its ongoing disinvestment programme. The stake sale could increase to 5 percent if the oversubscription option is exercised, according to official information shared by the Department of Investment and Public Asset Management (DIPAM).
Under the base offer, the government will offload over 10.44 crore equity shares, while an additional 2 percent stake may be sold through the green-shoe option if investor demand remains strong.
The floor price for the OFS has been set at Rs 254 per share, which is lower than the prevailing market price, a strategy often used to attract wider investor participation.
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The two-day OFS process will open first for institutional investors, followed by retail investors and employees on the next day, with a portion of shares reserved for both categories.
This move is part of the government’s broader strategy to raise funds and increase public shareholding in public sector undertakings (PSUs) through market-based divestment.
BHEL, a central public sector enterprise under the Ministry of Heavy Industries, is one of India’s largest engineering and manufacturing companies in the power and industrial equipment sector.
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