Bharat Heavy Electricals’ share price plunged 5.4% in the early trade today to Rs 261.15 on the National Stock Exchange after the government decided to pare 5% stake in the PSU via an offer for sale (OFS) beginning today, February 11. The floor price has been set at Rs 254 per equity share.
In a social media post on platform X (formerly Twitter), Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said, “Government offers to disinvest 3% equity in the BHEL with an additional 2% as green shoe option.”
BHEL OFS details
If completely subscribed at the floor price, the sale of 17.41 crore shares, or 5% stake, would yield the government Rs 4,422 crore. The issue will open for non-retail investors on February 11, while retail investors will get to put in a price bid on Thursday, February 12.
The floor price of Rs 254 per share is at a discount to the current market price of BHEL.
The base issue size comprises over 10.44 crore shares, or 3% stake, in BHEL, plus a greenshoe option to sell over 6.96 crore shares or 2%. The government’s total holding in BHEL stands at 63.17%.
BHEL Q3FY26 results
The company reported a consolidated net profit of Rs 390.40 crore for the third quarter of FY26, a jump of 190% year-over-year from Rs 134.70 crore in the same period a year ago. On a sequential basis, the company’s consolidated net profit surged 4.13% from Rs 374.89 crore in Q2FY26.
The firm’s revenue from operations increased 16.4% YoY to Rs 8,473.10 crore in Q3FY26, compared to Rs 7,277.09 crore recorded in the corresponding quarter of the previous financial year. Other income of the company during the quarter under review rose 102% to Rs 218.75 crore from Rs 107.91 crore, YoY.
BHEL share performance
The share price of BHEL has risen 2.9% in the last five trading days. The stock has changed a little over the last one month and has given a return of almost 25% in the past six months. BHEL’s share price has raised investors’ wealth by more than 38% in the previous 12 months.