The government is offloading up to 5% of its stake in BHEL through an Offer for Sale, starting with 3% and an option for an additional 2%. Bids open Wednesday for institutional investors and Thursday for retail, with a floor price set at ₹254 per ...
By ET Bureau |
IANS
On Tuesday, shares of BHEL closed 0.53% higher at ₹276 on BSE, up ₹1.45.
Mumbai: The government has launched an Offer for Sale (OFS) to sell up to a 5% stake in Bharat Heavy Electricals (BHEL). Under the offer, the Centre will first sell a 3% stake, with an option to sell an additional 2% if the issue is oversubscribed.
The floor price for the OFS has been fixed at ₹254 per share, the Department of Investment and Public Asset Management (DIPAM) said on X.
The offer opens for subscription Wednesday for non-retail investors, while retail investors can place their bids on Thursday.
Floor Price Fixed at ₹254/Share The stake sale is part of the government's plan to reduce its holding in BHEL and increase public shareholding. The divestment is also expected to improve liquidity in the stock.
On Tuesday, shares of BHEL closed 0.53% higher at ₹276 on BSE, up ₹1.45.
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