Starting with an initial 3% stake and an option for an extra 2% to accommodate oversubscription, the Indian government began an Offer for Sale (OFS) on February 10 to divest up to 5% of Bharat Heavy Electricals Limited (BHEL).
Each share will start at a floor price of Rs 254. There are a total of 17.41 crore shares, with the 3% interest representing more than 10.44 crore shares and the additional 2% representing over 6.96 crore shares.
Shares will be sold through specific windows on BSE and NSE when the OFS opens tomorrow for non-retail investors and Thursday for retail investors. The government’s disinvestment policy includes this sale, and the lowered aim for the fiscal year 2025-26 is Rs 33,837 crore, down from Rs 47,000 crore.
Bharat Coal Gasification and Chemicals Limited (BCGCL) and BHEL have formed a joint venture, and BHEL has acquired a project from BCGCL worth around Rs 2,800 crore.
