Govt to exercise green shoe option for HAL OFS

The Finance Ministry on Thursday decided to exercise the green shoe option as the offer-for-sale of HAL has received a good response, with the issue subscribed 4.5 times on day one
Govt to exercise green shoe option for HAL OFS
Govt to exercise green shoe option for HAL OFS

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.

First day of OFS

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.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

logo
PSU Watch
psuwatch.com