Retail investors oversubscribe Hindustan Copper OFS on second day

New Delhi: Retail investors oversubscribed Hindustan Copper share sale on Wednesday, the closing day of OFS.

As against the 58 lakh shares reserved for them, retail investors put in bids for over 3.28 crore shares, oversubscribing the issue 5.65 times around 3 pm.

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The government is selling over 5.80 crore shares or up to 6 percent (including 3 percent green shoe option) stake in Hindustan Copper through a two-day Offer-for-Sale (OFS) at a floor price of Rs 514 apiece.

The floor price was set at a 10.38 percent discount over Monday's closing share price.

On Tuesday, Hindustan Copper shares fell 7.04 percent to Rs 533.20 apiece on BSE.

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The government currently has a 66.14 percent equity holding in Hindustan Copper.

So far in the current fiscal, the government has mopped up Rs 52,716 crore via PSU disinvestment through OFS in eight PSUs and remittances from SUUTI.

For the full FY27 financial year, the budget has set a target of Rs 80,000 crore to be raised from disinvestment and asset monetisation.

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