BEL shares closed at Rs1,510.25 on BSE on Wednesday, up 3.19% from the previous close, while the benchmark Sensex closed 0.36% higher at 28,864.71 points. New Delhi: The sale of a 5% government stake in Bharat Electronics Ltd (BEL), which opened to institutional buyers on Wednesday, received bids for 2.34 times the number of shares on offer, stock exchange data showed. Institutions bid for over 2.09 crore shares, against the 89.34 lakh set apart for them. The government is hoping to raise as much as Rs1,600 crore by selling 1.11 crore shares in the aerospace and defence company at a floor price of Rs1,498 through an offer-for-sale (OFS). BEL shares closed at Rs1,510.25 on BSE on Wednesday, up 3.19% from the previous close, while the benchmark Sensex closed 0.36% higher at 28,864.71 points.

Source: Mint February 22, 2017 15:33 UTC