MUMBAI: Govt is selling up to 6% in Hindustan Copper at a floor price of Rs 514 per share through an offer for sale (OFS) to mobilise about Rs 3,000 crore.
This is the 10th divestment offer in the current fiscal.According to the company's disclosures on BSE, govt is offering to sell a little over 2.9 crore shares (3% of the company's equity capital) through the OFS, which will open today.
Depending on the demand, govt may offer another 2.9 crore shares to investors, it said.Retail investors will be able to bid on the second day of the offer, that is, Aug 26.
"10% of the offer is reserved for retail investors, with an additional 25,000 shares reserved for eligible employees," secretary, DIPAM, govt's divestment department, said through a post on X (formerly Twitter).Currently, govt holds 66.1% in the copper miner and producer, shareholding data on BSE showed.
Post the successful divestment in the company, govt's stake would come down to a little over 60%.
