India Sells 3% Stake in Hindustan Copper at Discounted Price

The Indian government has announced plans to sell a 3% stake in Hindustan Copper through an offer for sale (OFS) at a floor price of Rs 514 per share.

This move comes after a strong run in Hindustan Copper's shares, which have gained around 17% in August due to rising global copper prices and concerns over availability.

The government has reserved 10% of the offered shares for retail investors and an additional 25,000 shares for eligible employees.

If fully exercised, the green-shoe option could lead to a total 6% stake sale in Hindustan Copper, worth around Rs 3,000 crore at the floor price.