BHEL shares fell over 5% on February 11, 2026, after the government announced a 5% stake sale via Offer for Sale (OFS) at a floor price of ₹254 per share—an 8% discount to the previous close. The OFS opens for non-retail investors today, retail tomorrow.
Shares of Bharat Heavy Electricals Ltd (BHEL) tumbled more than 5% in early trade on February 11, 2026, following the government’s announcement of a stake sale through an Offer for Sale (OFS).
Key Highlights
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Stake Sale: The government is divesting up to 5% equity in BHEL, comprising a 3% base offer and an additional 2% greenshoe option.
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Floor Price: Set at ₹254 per share, nearly 8% lower than the previous close of ₹276.05.
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Market Reaction: Shares dropped to intraday lows of ₹261.40, reflecting investor concerns over discounted pricing.
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Fundraising Goal: The OFS could raise approximately ₹4,422 crore if fully subscribed.
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Timeline: Non-retail investors can bid today (Feb 11), while retail investors and employees will participate tomorrow (Feb 12).
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Employee Quota: 0.25% of equity reserved for eligible staff.
The sharp decline highlights investor caution around government disinvestment moves, even as BHEL recently reported strong earnings growth. Analysts suggest the discounted floor price may attract long-term buyers, but short-term volatility is expected as markets digest the supply overhang.
Sources: Reuters, Economic Times, Financial Express, Business Upturn