BHEL OFS Opens on Feb 11: Government to Divest 3% Stake

The Government of India has announced plans to divest up to a 3% stake in Bharat Heavy Electricals Ltd (BHEL) through an Offer for Sale (OFS), with an additional greenshoe option to offload another 2% stake in case of strong demand.

BHEL OFS Details

The OFS will be conducted over two trading days, February 11 and 12, 2026. The floor price has been fixed at ₹254 per share, reflecting a discount of around 8% compared to BHEL’s closing price on the NSE prior to the announcement.

Under the base offer, the government aims to sell shares equivalent to 3% of BHEL’s total paid-up equity, estimated to raise approximately ₹2,650 crore. If the oversubscription option is exercised, an additional 2% stake could be sold, potentially generating another ₹1,770 crore.

The shares are being offered by the President of India, acting through the Ministry of Heavy Industries, which is the company’s promoter.

For non-retail investors, the OFS will open on February 11, 2026, from 9:15 am to 3:30 pm IST. Retail investors, along with non-retail investors who choose to carry forward their bids, can participate on February 12, 2026, during the same trading hours.

Also Read: IndiGo's FDTL Exemption Ends Today: Full Compliance Required By DGCA

Secured New Order

Separately, BHEL has secured a significant project order from Bharat Coal Gasification and Chemicals Limited (BCGCL), valued at approximately ₹2,800 crore, excluding applicable customs duty and GST.

BCGCL is a joint venture between Coal India Limited (holding 51%) and BHEL (holding 49%). The order involves setting up the Syngas Purification Plant under the LSTK-2 package for BCGCL’s coal-to-ammonium nitrate project with a capacity of 2,000 tonnes per day. The facility will be developed at Lakhanpur in the Jharsuguda district of Odisha.

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