BHEL's Rs 1,628-cr buyback offer to open today

State-owned power equipment maker Bharat Heavy Electricals Limited (BHEL) on Wednesday said its share buyback offer worth Rs 1,628 crore would open on December 13. The offer to buy 18.93 crore equity shares representing 5.16 percent paid-up equity share capital of the company will close on December 27. The buyback would be done through the tender offer route. The price has been fixed at Rs 86 per equity share of face value Rs 2 each. The company's shares closed at Rs 66.40 per piece Wednesday, down 5.75 percent, on the BSE.