Now Reading: Hindustan Copper OFS gets 3.4 times bids, government to sell 6% stake
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Hindustan Copper OFS gets 3.4 times bids, government to sell 6% stake
Hindustan Copper OFS gets 3.4 times bids, government to sell 6% stake
The government's offer-for-sale (OFS) in Hindustan Copper Ltd received strong demand from institutional investors on the first day, with bids reaching 3.41 times the shares on offer. The Department of Investment and…
The government's offer-for-sale (OFS) in Hindustan Copper Ltd received strong demand from institutional investors on the first day, with bids reaching 3.41 times the shares on offer. The Department of Investment and Public Asset Management secretary Arunish Chawla said the government will exercise the full greenshoe option of an additional 3% to meet excess demand, taking the total stake sale to 6%.
The floor price was set at Rs 514 per share, a 10.38% discount to the previous closing price of Rs 573.55. At this price, the sale will fetch about Rs 2,982-3,000 crore for the exchequer. Hindustan Copper shares closed 7% lower at Rs 533.20 on Tuesday. Retail investors and eligible employees can bid on Wednesday. The government's stake will fall from 66.14% to 60.14% after the sale.
So far in FY27, the government has raised Rs 52,716 crore through disinvestment, against the full-year target of Rs 80,000 crore.
Indian Opinion Analysis
Both Hindustan Times and Livemint report the OFS details neutrally, but Livemint adds the oversubscription figure and secretary Chawla's X post, framing the sale as a success. Hindustan Times omits the demand data entirely, focusing on the floor price and discount. Livemint also contextualises the sale within the FY27 disinvestment target of Rs 80,000 crore, noting the government has already raised three-fourths of it. The Hindustan Copper OFS closes for retail on Wednesday, with final proceeds dependent on subscription.
Coverage: 2 sources, 2 neutral
Sources (2): hindustantimes.com (neutral report), livemint.com (neutral report)
This story was synthesised by AI from the 2 sources linked above.
