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.
Agencies
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.
Agencies
Agencies