Hindustan Copper falls as govt offers 10% discount
The Indian government is planning to sell a 6% stake in state-owned copper miner Hindustan Copper Ltd through an offer for sale (OFS). This initial public offering (IPO) will consist of a mandatory 3% sale with a possible second tranche of 3% based on demand. The OFS will open at Rs 514 per share, representing a 10% discount from Hindustan Copper's last closed price of Rs 573.55.
The sale commences for non-retail investors on Tuesday, August 25, 2026, with bids accepted from 9:15 am to 3:30 pm. Allocation for regular bids will be announced around 7 pm on the same day, while retail investors can participate on Wednesday, August 26. Hindustan Copper, under the Ministry of Mines, is India's exclusive vertically integrated copper producer with significant expansion projects and deals underway in multiple countries.
This disinvestment move aims to boost public shareholding in the government-controlled mining sector and capitalize on the growth of copper demand driven by electric vehicles, renewable energy, and infrastructure development.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Govt to sell up to 6% stake in Hindustan Copper via OFS; floor price at 10% discount economictimes.indiatimes.com
