BHEL buyback offer opens today

The ₹1,628-crore buyback offer at ₹86 a share from BHEL opens on December 13 and closes on December 27. The State-owned power equipment maker plans to buy back 18.93 crore shares, which is 5.16 per cent of the paid-up equity capital of the company. As the buyback would be conducted through the tender offer route on proportionate basis, only shareholders whose names had appeared on November 6 (record date) in the company’s books can participate.