Government Sells Up to 6% Stake in Hindustan Copper for ₹3,000 Crore

The Indian government is planning to sell up to 6% of its stake in Hindustan Copper Ltd through an Offer for Sale (OFS) at a floor price of ₹514 per share. This sale will give the government nearly ₹3,000 crore if the full 6% stake on offer is sold.

The OFS will have a base offer of 3%, with an additional 3% green-shoe option in case of oversubscription. Retail investors will be entitled to 10% of the offer, while an additional 25,000 shares have been reserved for eligible employees.

Hindustan Copper's financial performance improved sharply in the June quarter, with a net profit more than doubling to ₹353 crore amid strong revenue and operating profit growth. The company's EBITDA margin expanded to 54% from 41%. Global copper prices had crossed the $14,000-per-tonne mark last week, reaching their highest intraday level since late January.