Hindustan Copper Stake Sale: Government to Divest 3% via OFS

Hindustan Copper's shares will be in focus on trading days as the government plans to divest a 3% stake in the company through an offer for sale (OFS). The total OFS size is 6%, aiming to raise nearly Rs 3,000 crore. The floor price for the shares has been set at Rs 514 per share, which is a discount of 10.5% from the August 25 closing price.

The President of India, acting through the Ministry of Mines, will offer over 2.90 crore shares of face value Rs 5 each, making up 3% of Hindustan Copper's issued and paid-up equity capital. The total issue size is 5.80 crore equity shares worth Rs 2,982.30 crore.

The OFS has reserved a minimum of 10% of the offer shares for retail investors, who can bid up to Rs 2 lakh aggregated across both exchanges. For mutual funds and insurance companies, at least 25% is reserved, subject to valid bids at or above the floor price.