Bhel OFS opens for non-retail investors; govt to sell up to 5% stake | Company News
The government on Tuesday announced the launch of an Offer for Sale (OFS) for divestment of up to 3 per cent equity stake in state-run Bharat Heavy Electricals Limited (BHEL), with an additional 2 per cent stake available through green shoe option. The Department of Investment and Public Asset Management (DIPAM) said in a statement on social media platform
The proposed stake sale is part of the Centre’s disinvestment program for the current financial year. According to data available on the DIPAM disinvestment receipts portal, the government has so far collected around Rs 8.768 billion in FY26 through minority stake sales and other revenues. The final amount to be raised through BHEL OFS will depend on investor response and exercise of the green shoe option.
BHEL is a major public sector enterprise under the Ministry of Heavy Industries and plays a key role in India’s energy and infrastructure sectors. Separately, the company received a Letter of Acceptance (LoA) from Bharat Coal Gasification and Chemicals Limited (BCGCL) for a project worth around Rs 2,800 billion excluding customs duty and goods and services tax.
BCGCL is a joint venture between Coal India Limited, which owns 51 per cent, and BHEL, which owns the remaining 49 per cent. The order relates to BCGCL’s synthesis gas purification plant under LSTK-2 package for up to 2,000 tonnes per day ammonium nitrate from coal project at Lakhanpur in Jharsuguda district of Odisha.
As part of the contract, BHEL will undertake design and engineering, equipment supply, civil works, installation and commissioning as well as operation and maintenance services. Shares of Bharat Heavy Electricals Ltd closed 0.53 per cent higher at Rs 276.05 on the BSE and gained Rs 1.45 during the session.
The Union Budget 2026-27 has set a disinvestment target of Rs 80,000 billion under various capital receipts, which include sale of stakes in public sector undertakings (PSUs) and monetization of assets. However, in the financial year 2025-26 (FY26), the government fell short of the budget target of Rs 47,000 Million, leading to a downward revision in the Revised Estimates (RE) to Rs 33,837 Million.
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