Centre Puts Hindustan Copper Stake on the Block at 10% Discount
What Happened
The Centre has announced an Offer for Sale (OFS) in state-run Hindustan Copper, proposing to sell an initial 3% stake with an option to divest an additional 3% through a green-shoe option if demand is strong, taking the total stake sale to 6%. The floor price has been set at ₹514 per share, about 10% below the stock's closing price of around ₹574.
Key Takeaways
The stake sale is part of the Centre's ongoing disinvestment drive to raise resources and increase public shareholding in PSUs, while capitalising on strong investor interest in the copper sector amid rising demand from energy transition and infrastructure projects.