Indian IPO Blog

Insights into investing world in India

Responsive Ads Here

BHEL FPO approved by CCEA

Bharat Heavy Electricals Limited, the electrical equipment heavyweight, is planning to come up with a Follow-on Public Offer (FPO) in line with Government's divestment plans. The Cabinet Committee of Economic Affairs (CCEA) has approved disinvestment of 5% paid up equity of Bharat Heavy Electricals (BHEL) through a Follow-on Public Offer (FPO)

Bharat Heavy Electricals Limited (BHEL) is the largest engineering and manufacturing enterprise in India in the energy-related/infrastructure sector, today. BHEL was established more than 40 years ago, ushering in the indigenous Heavy Electrical Equipment industry in India. The company has been earning profits continuously since 1971-72. BHEL caters to the core sectors of the Indian Economy, viz. Power, Transmission, Industry, Transportation, Renewable Energy, Oil & Gas and Defence. BHEL's operations are organised around three business sectors, namely Power, Industry - including Transmission, Transportation and Renewable Energy - and Overseas Business

Although the availability of discount or otherwise has not yet been confirmed, it would be interesting to note whether the company announces a Retail Discount as well along with an Employee Discount. Currently, the Government of India holds 67.72% stake in BHEL. It plans to divest around 5% of its stake through the proposed Follow-on Public Offer. Consequent to the FPO, the Government's stake in the company would be reduced to 62.72%

Stay tuned to Indian IPO Blog for the latest updates on BHEL FPO!

No comments:

Post a Comment