The government will sell up to 10 per cent stake in Hindustan Copper through an offer for sale (OFS) in a move that would help the exchequer garner about Rs 1,120 crore in divestment receipts.
The government will sell 5 per cent or 48.3 million shares in the copper miner at Rs 116 apiece on Thursday and Friday. The floor price has been set at a 7 per cent discount to the closing price of the stock on Wednesday. The OFS also includes a greenshoe option to sell an additional 5 per cent shareholding of the public sector undertaking (PSU).