The Centre will sell a 3% stake in BHEL first, plus an option for an additional 2% if the issue is oversubscribed. The offer opened for non-retail investors on Wednesday, with retail bids starting Thursday. If all 17.41 crore shares are sold at the floor price, the government will earn Rs 4,422 crore. This includes 10.44 crore shares (3%) and a greenshoe option for 6.96 crore shares (2%). The government currently owns 63.17% of BHEL. So far this fiscal year, Rs 8,768 crore has been raised from PSU disinvestments. BHEL showed a sharp turnaround in its December quarter results. Net profit jumped 206% year-on-year to Rs 382 crore, up from Rs 125 crore last year. Revenue rose 16% to Rs 8,473 crore, reflecting better project execution and a stronger order pipeline. Total income, including other income, was Rs 8,700 crore, up from Rs 7,393 crore previously. This stake sale comes as BHEL’s performance excites investors and strengthens the government’s disinvestment drive.