The Government of India, through the Ministry of Heavy Industries, has announced an Offer for Sale (OFS) of up to 5% equity stake in Bharat Heavy Electricals Limited (BHEL). The sale, scheduled for February 11–12, 2026, includes a base offer of 3% and an oversubscription option of 2%.
The Ministry of Heavy Industries has formally notified stock exchanges of its plan to divest part of its holding in Bharat Heavy Electricals Limited (BHEL). The President of India, acting as promoter, will sell equity shares via the OFS route, a mechanism designed for companies with market capitalization above INR 1,000 crore.
Key Highlights
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Base Offer Size: Up to 10.44 crore shares, representing 3% of BHEL’s equity capital.
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Oversubscription Option: An additional 6.96 crore shares (2%), taking the total to 5%.
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Employee Reservation: 87 lakh shares (0.25%) earmarked for eligible employees, with a cap of ₹5 lakh per applicant.
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Floor Price: ₹254 per share, with no retail discount offered.
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Trade Dates: February 11, 2026 for non-retail investors; February 12, 2026 for retail investors, employees, and carry-forward bids.
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Brokers: Citigroup Global Markets India, ICICI Securities, and Nuvama Wealth Management will manage the sale.
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Allocation Rules: Minimum 10% reserved for retail investors, and 25% for mutual funds and insurance companies.
This divestment aligns with the government’s broader disinvestment strategy, aiming to unlock value and widen retail participation in public sector enterprises.
Sources: Ministry of Heavy Industries, SEBI Master Circular, BSE & NSE OFS Guidelines.