Hindustan Copper Share Price Rises 2.82% as OFS Opens for Retail Investors

Hindustan Copper Limited's share price rose by 2.82% on the National Stock Exchange (NSE) as the Offer for Sale (OFS) opened for retail investor subscription.

The OFS has seen strong demand from non-retail investors, with the government exercising its Green Shoe Option to increase the stake sale from 3% to 6%. This has led to a significant amount of money being raised by the government through the OFS, potentially reaching ₹2,982 crore at the OFS floor price of ₹514 per share.

The stock's recovery appears to be driven by buying interest among investors and traders after Tuesday's sell-off in the stock. The shares of Hindustan Copper Limited closed at ₹532.65 on Tuesday but recovered with strong interest, gaining almost 3% today to touch a high of ₹551.80.