India Sells Up to 6% Stake in Hindustan Copper for ₹3,000 Crore

The Government of India is set to sell up to a 6% stake in Hindustan Copper Ltd through an Offer for Sale (OFS), aiming to raise nearly ₹3,000 crore at a floor price of ₹514 per share. This represents a 9.5% discount to the company's Monday closing price of ₹567.90.

Retail investors will have access to 10% of the offer, while an additional 25,000 shares have been reserved for eligible employees. The government currently holds around 66% of Hindustan Copper's stake and may see its holding decrease to approximately 60% if the full 6% stake is sold.

Hindustan Copper has reported a significant improvement in financial performance in the June quarter, with net profit more than doubling to ₹353 crore compared to ₹134 crore in the year-ago period. Revenue rose 81.4% year-on-year to ₹936.5 crore from ₹516.4 crore, and EBITDA (earnings before interest, tax, depreciation, and amortisation) expanded to 54% from 41%.