 "Hindustan Copper OFS sees tepid demand from non-retail investors")
The share sale launched by the government in Hindustan Copper saw tepid demand from investors. The offer for sale (OFS) received bids for 61.5 million shares worth Rs 713 crore from non-retail investors. Most bids came at an indicative price of Rs 116.12, showed data provided by stock exchanges.
A total of 96.7 million (10 per cent stake) shares worth Rs 1,122 crore have been put on the block. About 9.67 million shares reserved for retail investors will be auctioned on Friday.
The floor price for the OFS has been set at Rs 116 per share. Shares of Hindustan Copper fell 6 per cent to end at Rs 117 on the BSE. At the end of June 2021 quarter, the government holding in the company stood at 72.76 per cent.
A total of 96.7 million (10 per cent stake) shares worth Rs 1,122 crore have been put on the block. About 9.67 million shares reserved for retail investors will be auctioned on Friday.
The floor price for the OFS has been set at Rs 116 per share. Shares of Hindustan Copper fell 6 per cent to end at Rs 117 on the BSE. At the end of June 2021 quarter, the government holding in the company stood at 72.76 per cent.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%