BHEL OFS Set to Open Today February 12 for Retail Investors: Here is How You can Subscribe

The Offer for Sale (OFS) of Bharat Heavy Electricals Ltd. (BHEL) opens for retail investors on Thursday, February 12, with a cut-off price of ₹256 per share.

The government is divesting up to 5% of its stake in BHEL through this OFS. Initially, 3% of the stake will be offered, with an option to sell an additional 2% if the issue is oversubscribed. The floor price for the shares has been set at ₹254 per share. The OFS for non-retail investors opened a day earlier, on Wednesday.

The response from the market has been strong. The issue was oversubscribed 2.35 times, with over 22 crore bids received against the base offer of 10.44 crore shares. Shares were ultimately subscribed at ₹260.8 each, above the floor price.

How Can Retail Investors Subscribe to BHEL OFS?

Step 1: Log in to your trading account and navigate to the “Corporate Actions” or “OFS” section.

Step 2: Review the details, including floor price, bid quantity, and your desired bid price.

Step 3: Place a bid above the floor price. Bids below ₹254 will be rejected.

Step 4: Ensure sufficient funds are available in your account, as the bid amount will be blocked by your broker during the process.

Step 5: If your bid is successful, the shares will be credited to your demat account within T+1 days.

Step 6: If rejected, the blocked funds will be refunded to your account.

Also Read: Netweb Technologies Block Deal: Promoters to Offload Up to 3% Stake Worth ₹514.5 Crore

Who qualifies as a retail investor?

Retail investors are typically those whose authorised share capital is up to ₹2 lakh. BHEL currently has 17.55 lakh retail shareholders, holding a 9.21% stake in the company.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.