Hindustan Copper Shares Rebound After 7% Fall Amid Government's OFS Announcement

Hindustan Copper shares rebounded on Wednesday after falling 7% the previous day. The stock opened at Rs 551.80 per share, a 3.49% increase from Tuesday's close of Rs 533.20.

The surge came as the government announced plans to divest up to 6% of Hindustan Copper through an Offer for Sale (OFS), including a 3% green shoe option. Non-retail investors subscribed 3.41 times the OFS on Day 1, while retail investors and eligible employees will bid today.

The government has reserved 10% of the offer size for retail investors, with an additional 25,000 shares set aside for eligible employees. The OFS opened at a floor price of Rs 514 per share.