The Union government will sell 3% equity in Hindustan Copper Ltd through an offer for sale, with an option to sell another 3% in case of oversubscription.
The OFS will open at a floor price of Rs 514 per share.
Hindustan Copper is under the Ministry of Mines and is India’s only vertically integrated copper producer.The base offer will allow the government to divest 3% equity.
If demand is strong, the government can use the green shoe option and sell an additional 3%, taking the total stake sale to 6%.An offer for sale allows promoters of a listed company to sell shares through the stock exchange platform.
In this case, the promoter is the Government of India.
