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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
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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).