The government has raised more than Rs 25,000 crore this year by selling stakes in public sector undertakings (PSUs) through the Offer for Sale (OFS) route. Market data reveals that this is the highest fundraising exercise in over a decade. In total, 24 listed companies, including both public and private sector entities, have raised around Rs 29,445 crore via the OFS route in 2026.
The data compiled by Prime Database indicates that the Centre mobilized approximately Rs 25,491 crore by diluting stakes in eight listed PSUs this year. This amount marks the highest sum raised through PSU OFS issues since 2015 when about Rs 35,291 crore was garnered through stake sales in five listed companies. The figures are nearing the record high of Rs 35,566 crore raised by 19 firms in 2015.
Stake sales have been conducted in various state-run companies including Bharat Heavy Electricals Ltd (BHEL), Indian Railway Finance Corporation (IRFC), Central Bank of India, Coal India, NHPC, NLC India, and General Insurance Corporation of India. Additionally, private sector companies have also participated in the OFS market. Analysts observe that despite market volatility, PSU stocks have shown a subdued performance post their OFS launches.
The funds raised through these stake sales are expected to help meet the increased expenditure requirements for subsidies related to food, fertilizers, and cooking gas. Notably, among the recently divested PSU stocks, BHEL has emerged as the top performer, trading around 62% above its OFS floor price. On the other hand, IRFC remains about 3% below its February OFS floor price, while Central Bank of India has seen a 6% increase since its May issue. Coal India and NHPC have risen by approximately 9% from their respective OFS floor prices, whereas NLC India and General Insurance Corporation of India have recorded gains of about 1% and 4%, respectively.
