The Government of India plans to divest up to a 6% stake in Hindustan Copper Ltd through an offer for sale (OFS) on the stock exchanges. The OFS opens at a floor price of ₹514 per share, with the government offering to sell an initial 3% stake and having an option to divest an additional 3% (a “green shoe”) if demand is higher than expected.
Both outlets report that the floor price represents a discount to the recent market closing price. The initial 3% sale is priced to be about 10% below the prior day’s BSE close cited by one outlet. Free Press Journal adds details that 10% of the offer is reserved for retail investors and that eligible employees get a separate allocation of 25,000 shares. Economic Times frames the move in the context of trading conditions and company fundamentals, including strong quarterly performance and expansion plans. Neither outlet disputes the core OFS size, pricing, or the green-shoe structure described by the government.
