New Delhi, February 10 The government will sell up to 5 per cent stake in Bharat Heavy Electricals Ltd (BHEL) through a share sale offer (OS) starting on Wednesday at a floor price of Rs 254 per share.
"The government is offering to divest 3 per cent equity in BHEL, with an additional 2 per cent as a green shoe option," said DIPAM Secretary Arunish Chawla on X.
The issue will be open to non-retail investors on Wednesday, while retail investors will have the opportunity to place bids on Thursday.
If fully subscribed at the floor price, the sale of 17.41 crore shares, or 5 per cent stake, would generate Rs 4,422 crore for the government.
The floor price of Rs 254 per share is approximately 8 per cent below BHEL's closing share price of Rs 276.05 on the BSE.
The base issue comprises over 10.44 crore shares, or 3 per cent stake, in BHEL, plus a green shoe option to sell over 6.96 crore shares, or 2 per cent.
The government holds 63.17 per cent in BHEL. BHEL shares closed at Rs 276.05, up 0.53 per cent from its previous close on Tuesday.
So far in the current fiscal year, the government has raised Rs 8,768 crore through disinvestment of public sector undertakings (PSUs).
