Hindustan Copper OFS Opens For Retail Investors After 3x Subscription
Shares of Hindustan Copper recovered on Wednesday after falling sharply in the previous session, as the government opened the retail portion of its Offer for Sale (OFS). The stock was trading at ₹541 on the BSE around 11:20 am, up ₹8.50, or 1.5%. The retail bidding follows strong demand from non-retail investors on Tuesday, prompting the government to exercise the entire 3% greenshoe option. This…
Hindustan Copper's retail portion of its Offer for Sale (OFS) opened for investors on Wednesday, following a sharp decline in the previous trading session. The stock, once trading at ₹541 on the BSE, rebounded to ₹541.50, up ₹8.50 or 1.5%. The government had initially allocated 3% of its shares for the retail OFS, but due to strong demand from non-retail investors, it exercised the entire 3% greenshoe option, doubling the stake up to 6%.
The OFS has a floor price of ₹514 per share, with at least 10% of the shares and 25,000 additional shares reserved for retail investors and eligible employees, respectively. If the government sells the complete 6% stake, it could generate around ₹2,982 crore. Retail investors can submit their bids between 9:15 am and 3:30 pm via the dedicated OFS window on the NSE and BSE, with settlement scheduled for August 27.
Written by urgent.news from Free Press Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
