Government to sell up to 6% stake in Hindustan Copper

The Government will sell up to 6 per cent stake in Hindustan Copper Ltd (HCL) through an offer for sale (OFS) at a floor price of Rs 514 a share. The floor price is at a 10.38 per cent discount over Monday’s closing share price of Hindustan Copper on the BSE.

In a post on X, Department of Investment and Public Asset Management (DIPAM) secretary Arunish Chawla said the Government of India offers to divest 3 per cent equity in Hindustan Copper Limited (HCL) through an Offer for Sale (OFS), with an option to divest an additional 3 per cent (green shoe) in case of oversubscription.

The OFS will open at a floor price of Rs 514 per share.

Shares of Hind Copper settled at Rs 573.55, up 0.17 per cent, on the BSE on Monday.

According to Chawla, 10 per cent of the offer is reserved for retail investors, with an additional 25,000 shares set aside for eligible employees.

So far in the current fiscal, the Government has mopped up Rs 52,716 crore through PSU disinvestment.