New Delhi, Aug 24 (SocialNews.XYZ) The Central government on Monday announced that it is offloading up to a 6 per cent stake in public sector Hindustan Copper in the stock market through an Offer for Sale (OFS), with the floor price fixed at Rs 514 per share.
"Government of India offers to divest 3 per cent equity in Hindustan Copper Limited (HCL) through an Offer for Sale (OFS), with an option to divest an additional 3 per cent (green shoe) in case of oversubscription. The OFS will open at a floor price of Rs 514 per share; 10 per cent of the offer is reserved for retail investors, with an additional 25,000 shares reserved for eligible employees," the Secretary of the Department of Investment and Public Asset Management (DIPAM) said in a post on X.
The floor price represents a 10 per cent discount to Hindustan Copper's closing price of Rs 574 on the NSE on Monday.
The government will initially offer 3 per cent equity in Hindustan Copper, with an additional 3 per cent green shoe option available in case of oversubscription. A green shoe option is a special clause in an offering agreement that allows underwriters to sell more shares than originally planned if investor demand is high. It acts as a market stabiliser to control price swings after a company lists its shares.
As much as 10 per cent of the Hindustan Copper shares being offered for sale will be reserved for retail investors, while an additional 25,000 shares will be reserved for eligible employees.
Hindustan Copper reported robust financial results for financial year 2025–26, with revenue from operations surging 48.6 per cent year-on-year to Rs 3,077.92 crore and net profit jumping 97.5 per cent to Rs 918.54 crore. For the subsequent first quarter (April-June) of financial year 2026–27, the company posted a net profit of Rs 353 crore and revenue of Rs 936.5 crore.
Source: IANS
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