IndiaEconomy
Government to sell up to 6% stake in Hindustan Copper via offer for sale
The Indian government is selling up to 6% of its stake in Hindustan Copper through an offer for sale at a floor price of Rs 514 per share, aiming to raise about Rs 3,000 crore.
The government is selling up to 6% of Hindustan Copper through an offer for sale (OFS) at a floor price of Rs 514 per share, which is an 11.6% discount to the stock's closing price of Rs 573.6 on the BSE on Monday. The sale is expected to mobilise about Rs 3,000 crore. This is the 10th divestment offer in the current fiscal year.
Initially, the government is offering a little over 2.9 crore shares, representing 3% of the company's equity capital. Depending on demand, it may offer another 2.9 crore shares to investors.
Retail investors will be able to bid on the second day of the offer, August 26. Ten percent of the offer is reserved for retail investors, with an additional 25,000 shares reserved for eligible employees.
IndiaEconomy
Government to sell up to 6% stake in Hindustan Copper via offer for sale
The Indian government is selling up to 6% of its stake in Hindustan Copper through an offer for sale at a floor price of Rs 514 per share, aiming to raise about Rs 3,000 crore.
The government is selling up to 6% of Hindustan Copper through an offer for sale (OFS) at a floor price of Rs 514 per share, which is an 11.6% discount to the stock's closing price of Rs 573.6 on the BSE on Monday. The sale is expected to mobilise about Rs 3,000 crore. This is the 10th divestment offer in the current fiscal year.
Initially, the government is offering a little over 2.9 crore shares, representing 3% of the company's equity capital. Depending on demand, it may offer another 2.9 crore shares to investors.
Retail investors will be able to bid on the second day of the offer, August 26. Ten percent of the offer is reserved for retail investors, with an additional 25,000 shares reserved for eligible employees.