Hindustan Copper OFS Oversubscribed, Govt Sells Up to 6 Percent Stake

The government's Offer for Sale (OFS) of Hindustan Copper Ltd was oversubscribed on both days, prompting it to exercise its entire greenshoe option.

This allowed the government to sell up to 6 percent stake in Hindustan Copper, valued at nearly Rs 2,982 crore at the floor price of Rs 514 per share.

The OFS received a strong response from retail investors, with the non-retail portion being subscribed more than three times. The government had reserved at least 10 percent of the OFS size for retail investors.