Secondary Issues
Centre to divest 6% stake in Hindustan Copper
The Government of India has announced plans to divest up to 6% of its equity stake in the New Delhi-based Hindustan Copper through an offer for sale (OFS). The transaction includes a base offer of 3% with a green shoe option to divest an additional 3% in the event of oversubscription. The floor price for the sale has been set at INR 514 per share.Founded in 1967, Hindustan Copper is a Schedule A Mini-Ratna, Category-I Central Public Sector Enterprise operating under the Ministry of Mines.The divestment is expected to generate approximately INR 3,000-Cr for the government, which currently holds a 66.14% equity stake in the firm. The offer structure reserves 10% of the shares for retail investors.
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