BHEL FPO Update

BHEL today announced that it would withdraw the FPO papers filed with SEBI. 


The company filed DRHP in September for the follow-on public offer (FPO) under which the government planned to offload 5% stake in the company which was expected to fetch over Rs 4,000 crore.


The company said the decision has been taken after the receipt of "no-objection" for withdrawal of DRHP for BHEL FPO from the Department of Heavy industry and Department of Disinvestment.

BHEL today also announced the fourth quarter and full year results which were above market expectations. for more details on BHEL result: BHEL Q4 2012 Result