BHEL OFS, Feb. 12 -- The offer for sale (OFS) by the Indian government in PSU company Bharat Heavy Electricals Ltd (BHEL) opens for retail investors today, Thursday February 12. The company, which has fixed a floor price of Rs.254 per share for the OFS, opened the OFS for non-retail investors yesterday, February 11.

The Centre is offloading up to a 3% stake, with an additional 2% greenshoe option in place. At the base level, the 3% sale is estimated at around Rs.2,650 crore. If the greenshoe option is fully exercised, the total transaction size could rise to nearly Rs.4,422 crore.

This is a pure promoter stake sale. As a result, the proceeds will accrue to the exchequer and not to the company, leaving BHEL's balance sheet and debt profi...