Government Unveils BHEL Stake Sale Plan Amid Disinvestment Push
The government is set to sell a 5% stake in Bharat Heavy Electricals Ltd (BHEL) through an offer for sale. This includes a 3% disinvestment with a 2% greenshoe option. The base issue is priced at Rs 254 per share, aiming to raise Rs 4,422 crore if fully subscribed.
- Country:
- India
The government has announced plans to divest a 5% stake in Bharat Heavy Electricals Ltd (BHEL) via an offer for sale expected to commence this Wednesday. This strategic move includes a 3% equity sale with an additional 2% greenshoe option.
DIPAM Secretary Arunish Chawla revealed this initiative in a statement, indicating that non-retail investors would access the issue starting Wednesday, while retail investors could submit bids on Thursday. The floor price for the sale is set at Rs 254 per share.
Should the offer be fully subscribed, the sale could garner approximately Rs 4,422 crore. This move aligns with the government's ongoing disinvestment strategy aimed at raising significant funds through PSU sales. Notably, the floor price is about 8% lower than BHEL's recent closing share price.
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