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India signals more PSU stake sales after Hindustan Copper oversubscribed
The Hindustan Copper OFS drew institutional bids 3.4 times the shares on offer, leading the government to fully use its greenshoe option as part of a ₹80,000 crore FY27 disinvestment goal.
India is signaling further stake sales in state-owned companies after an oversubscribed offering for Hindustan Copper, according to commentary cited by LiveMint Markets. The department said the Centre will follow through on additional shares made available under a greenshoe option after strong initial demand.
The Hindustan Copper OFS received institutional bids at 3.41 times the shares on offer on the opening day, prompting the Centre to exercise the entire greenshoe option to meet excess demand. LiveMint Markets also reported that retail investors and eligible employees can participate in the OFS on Wednesday, with 10% reserved for retail and up to 25,000 shares earmarked for eligible employees.
The government’s broader disinvestment drive targets ₹80,000 crore for FY27, with around ₹52,000 crore already raised through various transactions, including the LIC OFS and the latest Hindustan Copper stake sale, according to LiveMint Markets citing an NDTV Profit report. DIPAM Secretary Arunish Chawla told NDTV Profit the government is confident of achieving the FY27 target, while indicating that more market offerings could follow.
LiveMint Markets also noted that on 10 August it previously reported the Centre had already raised nearly three-fourths of its FY27 asset-sale target, after repeatedly missing the goal in recent years. It added that the government has outlined Asset Monetisation Pipeline 2.0, aiming to monetize opportunities across highways, railways, power, ports, mining, and other infrastructure sectors over the next five years.
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