Business Standard

Hindustan Aeronautics tumbles 6% on pricing OFS at discount

The government will be offloading 3.5 per cent stake in HAL through an Offer for Sale at Rs 2,450 per share from March 23 - 24, 2023.

HAL Nashik

SI Reporter Mumbai
Shares of Hindustan Aeronautics (HAL) tumbled 6 per cent to Rs 2,475 in intra-day trades on Thursday after the government priced the Offer for Sale (OFS) at a discount of Wednesday's closing price.

The government on Wednesday announced its plan to sell up to 3.5 per cent stake in the aerospace and defence company through an OFS to raise over Rs 2,867 crore. The Centre owns up to 75 per cent stake in HAL.

The 3.5 per cent stake sale comprised 1.75 per cent as the base offer and 1.75 per cent set as an additional option. The offer will

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First Published: Mar 23 2023 | 9:32 AM IST

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