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India Sells Up to 6% Stake in Hindustan Copper Amid Revenue Boost Efforts

Guavy AI Editorial Team
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Copper
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The Indian government plans to sell up to 6% of its stake in Hindustan Copper Ltd. through an offer for sale (OFS) on Tuesday and Wednesday.

The OFS will aim to raise around Rs 2,982 crore at a floor price of Rs 514 per share, which is a 10% discount to the company's closing share price of Rs 573.55 on BSE on Monday.

The government currently holds 66.14% in Hindustan Copper and a 6% stake sale will lower its share to 60.14%. Of the offer, 10% is reserved for retail investors, with an additional 25,000 shares reserved for eligible employees.

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