Market

Hindustan Copper OFS sees tepid demand from non-retail investors

Offer acquired bids for 61.5 mn shares value Rs 713 cr, most coming at an indicative value of Rs 116.12. A complete of 96.7 million (10% stake) shares value Rs 1,122 cr have been placed on the block

Topics
Hindustan Copper | Investors


BS Reporter  | 
New Delhi 


The share sale launched by the federal government in Hindustan Copper noticed tepid demand from investors. The provide on the market (OFS) acquired bids for 61.5 million shares value Rs 713 crore from non-retail investors. Most bids got here at an indicative value of Rs 116.12, confirmed information offered by stock exchanges.

A complete of 96.7 million (10 per cent stake) shares value Rs 1,122 crore have been placed on the block. About 9.67 million shares reserved for retail investors will probably be auctioned on Friday.

The ground value for the OFS has been set at Rs 116 per share. Shares of Hindustan Copper fell 6 per cent to finish at Rs 117 on the BSE. At the top of June 2021 quarter, the federal government holding within the company stood at 72.76 per cent.

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First Published: Thu, September 16 2021. 17:16 IST

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