Hindustan Copper OFS Opens for Retail Investors Amid Strong Institutional Demand
Hindustan Copper's Offer For Sale (OFS) opened for retail investors on August 26, following a strong response from institutional investors on the first day. The government decided to exercise the entire green shoe option after receiving robust demand, increasing the potential stake sale to 6% from the base offer of 3%. This means that Hindustan Copper's shares are now in focus as retail investors can bid in the OFS.
For those interested in bidding, here are the steps: open a trading account and navigate to the OFS or Corporate Action section. Select Hindustan Copper's OFS and check the floor price, bid quantity, and other details. Investors can bid at the floor price or higher; bids below the floor price will be rejected. It's also essential to ensure that sufficient funds are available in the trading account.
As per Hindustan Copper's June quarter shareholding pattern, the company has 12.78 lakh retail shareholders who collectively hold a 17.79% stake. The Hindustan Copper OFS received strong demand from institutional investors on the first day, with the issue subscribed 3.41 times.