Government to Sell 6% Stake in Hindustan Copper
· Business · LiveMint, Moneycontrol, Economic Times
The Indian government has launched an offer for sale (OFS) to divest up to a 6% stake in state-run Hindustan Copper at a floor price of ₹514 per share. This price represents a 10.45% discount compared to the company's closing price of ₹574 on the NSE as of Monday. The divestment includes a base offer of 3% equity, with an additional 3% green shoe option available if the sale is oversubscribed. This announcement follows a 17% surge in the stock's value during August, driven by rising global copper prices and supply concerns. The Department of Investment and Public Asset Management confirmed the move as part of the government's ongoing asset monetization efforts.
Why it matters
The stake sale provides an opportunity for investors to acquire shares in a state-run mining entity at a discount, while also contributing to the government's disinvestment targets.
Read the original report — LiveMint
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