"The timing must be seen, depending on market conditions. If markets are where they're today, certainly we can ask the Disinvestment Division to defer it, " Heavy Industries and Open public Enterprises Minister Praful Patel told PTI.
The Cabinet Committee on Economic Affairs (CCEA) yesterday approved five% FPO within the power-equipment major.
The Department of Disinvestment (DoD) has appointed four merchant bankers for disinvestment of BHEL, where the government holds 67. 72% stake.
On the basis from the stock price yesterday, the Navratna PSU is appreciated at Rs 86, 532 crore and the federal government may rake in about Rs 4, 300 crore by offloading 5% of its stake with the FPO.
Patel said the disinvestment cannot be the "distressed sale. It must realise a good value".
The Finance Ministry has setup an ambitious disinvestment target of Rs 40, 000 crore for that current fiscal.
While the government has approved disinvestment within ONGC, SAIL, HCL and NBCC, it could cleaner up only Rs 1, 162 crore through five% stake sale within the Power Finance Corporation in 2011-12.
Last fiscal, the federal government collected Rs 22, 763 crore through sale of equity in public places sector enterprises.