Hindustan Copper Ltd shares are trading under pressure on Tuesday, August 25 after the government said that it will divest a 3% stake in the firm through an Offer for Sale (OFS), with an additional 3% stake likely to be sold under the green-shoe option. The floor price for the OFS has been set at Rs 514 per share.
Shares of Hindustan Copper fell as much as 5.85% to Rs 540.55 apiece intraday.
Of the total offer, 10% will be reserved for retail investors, while an additional 25,000 shares will be set aside for eligible employees.
In a post on the social media platform X, Department of Investment and Public Asset Management (DIPAM) said, "Government of India offers to divest 3% equity in Hindustan Copper Limited (HCL) through an Offer for Sale (OFS), with an option to divest an additional 3% (green shoe) in case of oversubscription. The OFS will open at a floor price of Rs 514 per share. 10 percent of the offer is reserved for retail investors, with an additional 25,000 shares reserved for eligible employees."
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