HCL disinvestment raises Rs.400 crore
Retail investors gave good response to offer.
The Government of India has disinvested 6.83% of paid up equity in Hindustan Copper Limited through Offer for Sale (OFS), aiming to collect Rs.400 crore.
The trading took place on 2nd and 3rd August 2017. The floor price was fixed at Rs 64.75 per share (Face value Rs 5/- each) and retail investors were offered discount of 5% on the cut off price for the Non-Retail Category.
The retail portion of HCL OFS also got good response from the retail investors and the revised offer size of 1.26 crore shares also got fully subscribed.
Overall, HCL OFS got good response from the investors. This is the 4th CPSE OFS in the Current Financial Year 2017-18.
The Government’s shareholding in HCL after this OFS will come down to 76.05%. fii-news.com