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Tuesday, February 21, 2017

Bharat Electronics Ltd - BEL Offer for Sale (OFS)

The government will start 5 percent stake sale in state-owned aerospace and defence company Bharat Electronics Limited (BEL) to raise about Rs 1,600 crore through Offer for Sale (OFS) route

The share sale will be through an offer for sale (OFS) spread over two days - first day for institutional investors and the second day, on Thursday, for retail investors, a top official said. Thus, the OFS would be open for Non retail investors on Feb-22 and for Retail investors on Feb-23

The sale of shares under the OFS will be at a floor price of Rs 1,498 apiece which is about at a 4% discount to today's closing price of BEL on BSE

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