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 Rs 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 Rs 4,422 crore.

The floor price of Rs 254 a share is about 8 per cent below BHEL's closing share price of Rs 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 Rs 276.05, up 0