Govt to sell 3% stake in BHEL via OFS at `254 floor price

New Delhi: The government on Tuesday announced the sale of a 3 per cent stake in Bharat Heavy Electricals Limited (BHEL), comprising over 10.44 crore shares, through an offer for sale (OFS).

The floor price for the issue has been fixed at Rs 254 per share.

The government has also retained a green-shoe option to sell an additional 6.96 crore shares, equivalent to 2 per cent equity.

If fully exercised, the total divestment would rise to 17.41 crore shares, representing 5 per cent of BHEL’s paid-up equity capital.

The OFS will be conducted through a separate, designated window on the BSE and NSE during regular trading hours on Wednesday, starting at 9:15 am and closing at 3:30 pm.

At the floor price, the sale of a 3 per cent stake is expected to fetch about Rs 2,653 crore.

The proceeds could increase to nearly Rs 4,422 crore if the oversubscription option is exercised

in full.