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

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).