Commodities
India Sells Stake in Hindustan Copper at Discounted Price
The Indian government has announced plans to sell up to 6% of its stake in Hindustan Copper Ltd (HCL) through an offer for sale (OFS). The sale will be conducted at a floor price of ₹514 per share, which is a 10.38% discount from the company's closing share price on Monday.
The OFS will reserve 10% of the offer for retail investors and set aside 25,000 shares for eligible employees. The government has already mopped up ₹52,716 crore through PSU disinvestment in the current fiscal year.