Hindustan Copper OFS opens for non-retail investors

The offer for sale of government equity in Hindustan Copper opened on Thursday amid hype of a good response from investors.

The government is selling up to 10 per cent stake in the metal and mining company via offer for sale (OFS) at a floor price at Rs 116.

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The offer, which takes place on September 16-17, is open for non retail investors on Thursday. It will allow retail investors on Friday.

The OFS includes a 5 per cent Green-shoe option.

The government is selling 4,83,31,201 equity shares representing 5 per cent of the total paid up share capital of the company. Further, the offer entails an option to additionally sell 4,83,51,201 equity shares under green shoe option.

Hindustan Copper had reported a 53.6 per cent rise in consolidated net profit at Rs 45.63 crore for the quarter ended June 30, 2021.