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Facing opposition from the heavy industries department on disinvestment in BHEL, the finance ministry, under
P Chidambaram, is considering a 5% stake sale in the power plant equipment maker to financial institutions through
the block deal route. “For BHEL divestment, we are considering the possibility of a block deal with state financial institutions,” a senior finance ministry official said. State financial institutions include LIC and PSU banks. At BHEL’s current share price of Rs 172.85 apiece, the 5% stake sale would fetch about Rs 2,100 crore to the exchequer.