Hindustan Copper OFS opens for non-retail 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.