Hindustan Copper Share Price Falls 6% as OFS Kicks Off for Non-Retail Investors
Hindustan Copper's share price fell by 6% as its Offer for Sale (OFS) began for non-retail investors. This comes after the company saw a 13% surge in its stock value over the past month, driven by rising copper prices due to trade dislocations and demand tensions between the US and China.
Anand Rathi stated that global inventory at the London Metal Exchange (LME) and Shanghai Futures Exchange (SHFE) has been squeezed further, contributing to higher copper prices. He noted that several global miners have reduced their 2026 yearly guidance due to factors such as the Congo's blanket export ban on raw copper concentrates and Indonesia’s Gresik smelter outage.
Hindustan Copper is set to become the government's ninth OFS in FY27, with the company offering up to a 6% stake at a floor price of Rs 514 per share. Non-retail investors will be allowed to place their bids on August 25, followed by retail investors the next day.