The Centre will open its Offer for Sale (OFS) in Bharat Heavy Electricals Limited (BHEL) on Wednesday, inviting bids from non-retail investors as part of its ongoing disinvestment programme. The announcement came from the Department of Investment and Public Asset Management (DIPAM) on Tuesday.
“Offer for Sale in Bharat Heavy Electricals Limited (BHEL) opens tomorrow for Non-Retail investors. Retail investors can bid on Thursday. Government offers to disinvest 3% equity in the BHEL with an additional 2% as green shoe option,” DIPAM said.
Under the structure of the OFS, the government will initially divest a 3 per cent equity stake in the state-run engineering major. It has also retained an additional 2 per cent stake as a green shoe option, allowing it to sell more shares in case of strong demand.
The non-retail investor category will open first, followed by the retail investor window on Thursday.
Shares of BHEL closed 0.46 per cent higher at Rs 275.90 on the BSE on Tuesday.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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