New Delhi: The Finance Ministry on Thursday decided to exercise the green shoe option as the offer-for-sale of Hindustan Aeronautics Ltd (HAL) has received a good response, with the issue subscribed by 4.5 times on day one.
"Offer for Sale (OFS) of government shares in HAL got a great response on day one. Issue subscribed 4.5 times of base size at a clearing price above the floor price by non-retail investors. The government has decided to exercise the green shoe option. Retail investors get a chance to bid tomorrow," DIPAM Secretary Tuhin Kanta Pandey said in a tweet.
On the first day of OFS, shares of HAL closed 4.87 percent down at Rs 2,497.40 each on BSE. The floor price is at a discount of around 6.7 percent over the closing share price of HAL on BSE.
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