The government will sell 3% stake representing over 10.44 crore shares in Bharat Heavy Electricals Limited (BHEL) via an offer for sale (OFS). The PSU has set the floor price at Rs 254 per share.
The government has also retained an oversubscription option to sell an additional 6.96 crore shares, equivalent to 2% equity, which would take the total potential divestment to 17.41 crore shares, or 5% of the company’s equity capital, if fully exercised.
The shares will be sold through a separate, designated OFS window on the BSE and NSE.
More to come…