The federal government’s deliberate divestment in Bharat Heavy Electricals Ltd (BHEL) is about to kick off on Wednesday and the Centre plans to divest 3% stake, with a greenshoe choice to promote and an extra 2%.
The supply on the market (OFS) for non-retail traders will open on Wednesday, whereas retail traders can place their bids on Thursday, the Division of Funding and Public Asset Administration (Dipam) stated in an announcement on social media platform X.
The greenshoe entails an choice to promote an extra 6.96 crore shares, equal to 2% of the corporate’s fairness capital, which might take the full potential divestment to 17.41 crore shares, or 5% of the corporate’s fairness capital, if absolutely exercised.
The federal government at the moment owns 63.17% of the Maharatna firm, which has a market capitalisation of ₹96,122.36 crore.
BHEL, beneath the ministry of heavy industries, performs a key position in India’s energy and infrastructure sectors. It manufactures crucial and super-critical thermal energy gear.
A part of divestment
The OFS is a part of the federal government’s disinvestment plan for the present fiscal 2025-26. In line with information out there on the official website of Dipam the federal government has to this point this fiscal raised ₹8,768.02 crore as disinvestment receipts. It has additionally raised ₹18,837.42 crore from monetization of public property.
The stake sale would check the federal government’s plan for extra such provides within the remaining interval of the fiscal. The federal government has revised the disinvestment goal for FY26 from the budgeted ₹47,000 crore to ₹33,837 crore. Will probably be pushed by minority stake gross sales in central public sector enterprises, together with insurance coverage and defence corporations, alongside asset monetization.
The ultimate quantity to be raised via the BHEL OFS will rely upon investor response and the train of the greenshoe possibility. The shares of BHEL closed 0.53% increased at ₹276.05 a share on the shut of market hours on Tuesday on BSE Ltd.
To this point this fiscal, the federal government has bought stakes in Financial institution of Maharashtra ( ₹2,624.24 crore); Indian Abroad Financial institution ( ₹1,419.36 crore), Mazagon Dock Shipbuilders Ltd ( ₹3,673.42 crore); and remittances from the Specified Enterprise of the Unit Belief of India ( ₹1,051 crore).
For FY27, the federal government has set a better disinvestment goal of ₹80,000 crore from the sale of shares in central public sector enterprises and asset monetization.