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Hindustan Copper OFS opens for non-retail investors
The offer for the sale of government equity in Hindustan Copper opened on Thursday amid the hype of a good response from investors.
The government is selling up to a 10 percent stake in the metal and mining company via offer for sale (OFS) at a floor price of Rs 116.
The offer, which takes place on September 16-17, is open for nonretail investors on Thursday. It will allow retail investors on Friday.
The OFS includes a 5 percent Green-shoe option.
The government is selling 4,83,31,201 equity shares representing 5 percent of the total paid-up share capital of the company. Further, the offer entails an option to additionally sell 4,83,51,201 equity shares under the greenshoe option.
Hindustan Copper had reported a 53.6 percent rise in consolidated net profit at Rs 45.63 crore for the quarter ended June 30, 2021.