Govt to sell 5% stake in Hindustan Copper via OFS


Image Source : WWW.HINDUSTANCOPPER.COM

Hindustan Copper Ltd, a public sector enterprise beneath the executive keep watch over of the Ministry of Mines, was once integrated in November, 1967.

The govt will promote 5 in step with cent of its stake in state-owned Hindustan Copper via an be offering on the market (OFS) this week, in step with a regulatory submitting.

The OFS will happen on Thursday and Friday via a separate, designated window of the BSE Ltd and NSE, Hindustan Copper stated in a submitting to BSE.

“The President of India, performing via and represented via the Ministry of Mines, Government of India, is the promoter of Hindustan Copper Ltd,” the submitting stated.

The govt will promote 48,351,201 fairness stocks representing 5 in step with cent of the entire issued and paid up fairness percentage capital of the corporate.

“The Promoter… proposes to promote as much as 48,351,201 fairness stocks of the corporate (representing 5 in step with cent of the entire issued and paid up fairness percentage capital of the corporate… on September 16, 2021 (for non-retail buyers simplest) and on September 17, 2021 (for retail buyers and non-retail buyers who make a choice to hold ahead their un-allotted bids) with an possibility of moreover promote 48,351,201 fairness stocks… via a separate, designated window of the BSE Ltd and the National Stock Exchange of India Ltd (NSE),” Hindustan Copper stated in a submitting to BSE.

The ground value for the be offering will probably be Rs 116 in step with fairness percentage, the submitting stated.

Hindustan Copper Ltd, a public sector enterprise beneath the executive keep watch over of the Ministry of Mines, was once integrated in November, 1967.

It has the glory of being the country’s simplest vertically built-in copper generating corporate because it manufactures copper proper from the level of mining to beneficiation, smelting, refining and casting of delicate copper steel into downstream saleable merchandise.

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