India Sells Up To 6 Percent Stake in Hindustan Copper Through OFS

The Indian government has announced an Offer for Sale (OFS) in Hindustan Copper, aiming to sell up to 6% of its stake in the company. The floor price set for this sale is ₹514 per share.

This move comes after a sharp rally in Hindustan Copper's shares, with the stock gaining around 17% in August. The recent surge has been driven by higher global copper prices and concerns over supply availability, partly fueled by expectations of US import tariffs.

The government held a 66.14% stake in Hindustan Copper at the end of the June quarter, according to BSE shareholding data. If the green-shoe option is fully exercised, up to 6% of the company's shares could be sold, potentially raising around ₹3,000 crore based on calculations.

The OFS has a reserved portion for retail investors and eligible employees, with 10% of the offer set aside for retail buyers and 25,000 shares allocated for employees. This sale follows the government's earlier LIC OFS in August, which raised ₹31,552 crore to help the insurer meet minimum public shareholding requirements.