Government plans 5% stake sale in BHEL through OFS
pre-market1 source ↓written by the desknot a recommendation
- of Bharat Heavy
- 174.2 million equity shares
- of its total
- 5%
- at an average
- ₹4,470 cr
- per share
- ₹259.59
The Indian government plans to offload 174.2 million equity shares of Bharat Heavy Electricals Ltd (BHEL), representing 5% of its total equity, through an offer for sale (OFS). This move aims to raise ₹4,470 cr at an average price of ₹259.59 per share.
BHEL's strategic position in the renewable energy sector aligns with the Draft National Electricity Policy, which targets a significant increase in electricity consumption by 2030. This stake sale could impact market sentiment and liquidity for BHEL shares.
Not investment advice. For informational purposes only.