Government's Strategic Stake Sale in BHEL Sees Strong Investor Interest

Government's Stake Sale in BHEL Attracts Record Investor Interest

The government's stake sale in Bharat Heavy Electricals Limited (BHEL) has generated remarkable investor interest, with the sale being over-subscribed twice over on its first day.

• Institutional investors bid around Rs 5,650 crore for more than 22.07 crore shares.
• The initial offer consisted of 9.40 crore shares at an indicative price of Rs 256.07 per share.

The government is offloading 3% of its equity in BHEL, along with an additional 2% greenshoe option, at a floor price of Rs 254, in a two-day offer for sale.

• The move aims to raise Rs 4,422 crore from the sale of approximately 17.41 crore shares, representing a 5% stake.

This stake sale is part of the government's broader disinvestment strategy, having already raised Rs 8,768 crore this fiscal year from PSU stake reductions.

Retail investors will have their opportunity to bid on Thursday, as shares settled at Rs 260.65, marking a 5.58% drop from the previous close.

• Government's stake sale in BHEL over-subscribed twice over.
• Institutional investors bid Rs 5,650 crore for 22.07 crore shares.
• Floor price set at Rs 254 for 3% equity stake and 2% greenshoe option.
• Move aims to raise Rs 4,422 crore from sale of 17.41 crore shares.
• Part of government's broader disinvestment strategy.