Govt mobilises ₹25,491 crore via OFS in eight PSUs in 2026, the highest since 2015
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The government has raised around ₹25,491 crore so far in 2026 through offer for sale (OFS) in eight listed public sector undertakings (PSUs), registering its biggest fundraising exercise through this route since 2015.
According to data from Prime Database Group, the amount raised through PSU stake sales this year is the highest in 11 years. The previous peak was recorded in 2015, when the government mobilised around ₹35,291 crore through stake sales in five listed companies.
The strong pace of divestments comes as the government seeks to shore up resources and maintain fiscal discipline amid rising expenditure pressures, driven by geopolitical tensions, higher defence spending requirements, and elevated crude oil prices.
Including private-sector issuances, 24 listed companies have collectively raised about ₹29,445 crore through OFS transactions in 2026. The figure is already close to the ₹30,178 crore raised by 28 companies in 2024 and trails only the all-time high of ₹35,566 crore mobilised by 19 companies in 2015.
Among PSU transactions, Coal India emerged as the largest contributor to the government's fundraising kitty. In May, the government sold a 2% stake in the coal miner at a floor price of ₹412 per share, raising about ₹5,542 crore.
The second-largest OFS this year came from Bharat Heavy Electricals Ltd (BHEL) . The government offloaded up to a 5.3% stake in the engineering major at a floor price of ₹254 per share, garnering between ₹4,422 crore and ₹4,650 crore.
Another significant transaction involved NHPC , where the government sold a 6.01% stake and raised around ₹4,357 crore. The hydroelectric power producer's OFS attracted strong investor participation amid continued interest in power-sector stocks.
The government also divested a 5% stake in General Insurance Corporation of India (GIC Re) , fetching about ₹3,090 crore. The transaction helped improve public shareholding in the state-owned reinsurer while contributing to the Centre's divestment proceeds.
In the banking sector, the government divested an 8% stake in Central Bank of India. The issue witnessed sufficient demand for the exercise of the greenshoe option.
The government also sold a 2.73% stake in NLC India, while smaller transactions, including stake sales in SJVN and other PSUs, helped push the cumulative proceeds to the ₹25,491 crore mark.
In the latest development, the Centre has launched the OFS of Indian Railway Finance Corporation (IRFC) , aiming to raise around ₹2,300 crore by selling a 2% stake in the railway financing PSU. The government, which held an 84.65% stake in IRFC before the transaction, initially offered 1% equity for sale, with an additional 1% available under a greenshoe option to meet excess demand.
The Centre has set a target of raising ₹80,000 crore through disinvestment and asset monetisation during the current financial year and has already mobilised over ₹16,480 crore through a series of OFS transactions in public sector companies.
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