Overview
- In response to strong demand, the Centre sold the full 5% stake, totaling 17.41 crore shares, via the offer for sale.
- Day one saw institutional bids for 22.07 crore shares at an indicative price of Rs 256.07, followed by solid retail participation on day two.
- DIPAM said the greenshoe was exercised, with proceeds accruing to the government rather than to BHEL’s balance sheet.
- The government, which held 63.17% in BHEL pre-transaction, targeted a base 3% sale with a 2% greenshoe under the standard two-day OFS window.
- BHEL shares fell about 5–6% when the sale opened, while recent coverage highlighted improved Q3 FY26 performance and a Rs 2,800 crore LoA from BCGCL.