Business Standard

Govt to sell up to 10% stake in Hind Copper via OFS, may garner Rs 1,120 cr

The government will sell 5% or 48.3 million shares in the copper miner at Rs 116 apiece on Thursday and Friday

Govt to sell up to 10% stake in Hind Copper via OFS, may garner Rs 1,120 cr
Premium

Nikunj Ohri New Delhi
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). 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 15 2021 | 6:31 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com