Hindustan Copper OFS opens for retail investors today. Should you apply in the metals major's offer?
The OFS opened for non-retail investors on August 4, and saw strong participation. It now opens for retail investors today. Investors can participate between 9.15 am and 3.30 pm using the separate OFS window on NSE and BSE. A minimum of 10% of the offer size has been reserved for retail investors.
Government's retail offer for sale (OFS) in metals major Hindustan Copper began accepting applications today. Analysts argue that investors should consider participating, despite the current discount. The government plans to sell a 3% equity stake, with another 3% available through a green shoe option. The floor price is set at Rs 514 per share, representing a discount of more than 3% from Hindustan Copper's previous closing price of Rs 531.40 apiece. The total OFS size is nearly Rs 2,982 crore.
Hindustan Copper's Q1 profit jumped 163% year-over-year to Rs 353 crore. Margins are near 54%, and the company aims to reach 12.2 MTPA capacity by FY30. However, the margin increase is attributed to copper, not the mine. Analysts advise retail investors to buy the stock for a long-term exposure to copper, rather than seeking short-term gains from the OFS.
Written by urgent.news from The Economic Times - Top News'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.
- Hindustan Copper OFS may not be a big draw for retail investors: Analysts economictimes.indiatimes.com
