Global Markets
Home›Global Markets›Trade & Tariffs›Hindustan Copper OFS opens to retail investors, with g…
Hindustan Copper OFS opens to retail investors, with greenshoe expanded
The retail window runs 9:15 am to 3:30 pm, after non-retail demand over 3.4 times prompted the government to raise the sale to 6% and keep a ₹514 floor price.
Hindustan Copper shares are expected to stay in focus on Wednesday, August 26, as the government’s retail portion of an Offer for Sale (OFS) opens for bidding. LiveMint Markets said the retail leg follows strong non-retail interest on Tuesday, when the issue was subscribed more than three times.
According to LiveMint Markets, the government initially offered a 3% stake in Hindustan Copper, with an option to sell an additional 3% if the offering was oversubscribed. With the non-retail portion fully subscribed, it decided to exercise the entire greenshoe option, raising the potential stake sale to 6% from the base offer of 3%.
LiveMint Markets reported that the retail bids are accepted between 9:15 am and 3:30 pm through a separate OFS window on the BSE and NSE. The outlet said at least 10% of the OFS size is reserved for retail investors, and an additional 25,000 shares are set aside for eligible employees.
The floor price for the offer is ₹514 per share, and LiveMint Markets said this is a discount to the company’s recent market price. It also noted that the Tuesday non-retail bid was subscribed 3.41 times, setting up a closely watched second and final day of the stake sale.
Latest closeCopper $6.606 ▲0.2%