“We wish to intimate the Stock exchanges of our intention to exercise the Oversubscription Option to the extent of 6,96,41,267 Equity Shares (representing 2% of the total issued and paid-up equity share capital of the Company) in addition to 10,44,61,901 Equity Shares of the Company, (representing 3% of the total issued and paid-up equity share capital of the Company) forming part of the Base Offer Size. Accordingly, the total Offer Size will be up to 17,41,03,168 Equity Shares (representing 5% of the total issued and paid up equity share capital of the Company),” the company filing said.
The shares were subscribed at a price of Rs 260.8 apiece versus the floor price of Rs 254 per share.
BHEL shares today plunged nearly 6% and settled at Rs 260.80 on the NSE. On Tuesday, they had ended at Rs 276.10.
Under the green-shoe option, BHEL will offload 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.
The shares are being sold through a separate, designated OFS window on the BSE and NSE during trading hours commencing at 9:15 am and closing at 3:30 pm.
At the given floor price, the government will raise Rs 4,422 crore from the stake sale.
Retail quota
The OFS will open for retail investors on Thursday, February 12 and BHEL has reserved 1,74,10,318 (+1.74 crore) equity shares accounting for 10% of the offer for them.
Additionally, 87.05 lakh equity shares may be offered to eligible employees of the company through the stock exchange mechanism, the filing said.
BHEL reported a sharp turnaround in its December-quarter performance, with net profit more than tripling on the back of higher execution and operating leverage. The state-owned engineering major posted a net profit of Rs 382 crore for the third quarter ended December 2025, compared with Rs 125 crore in the same period last year, marking a 206% year-on-year jump.
Revenue from operations rose 16% YoY to Rs 8,473 crore from Rs 7,277 crore a year earlier, reflecting improved project execution and a stronger order pipeline. Total income for the quarter, including other income, stood at Rs 8,700 crore, up from Rs 7,393 crore in the year-ago period.