Hindustan Copper: Govt to sell 5% via OFS

"The Promoter...proposes to sell up to 48,351,201 equity shares of the company (representing 5 percent of the total issued and paid-up equity share capital of the company...on September 16, 2021 (for non-retail investors only) and on September 17, 2021 (for retail investors and non-retail investors who choose to carry forward their un-allotted bids) with an option of additionally sell 48,351,201 equity shares...through a separate, designated window of the BSE Ltd and the National Stock Exchange of India Ltd (NSE)," Hindustan Copper said in a filing to BSE.

The floor price for the offer will be Rs 116 per equity share, the filing said. Hindustan Copper Ltd, a public sector undertaking under the administrative control of the Ministry of Mines, was incorporated in November 1967.

It has the distinction of being the nation's only vertically integrated copper producing company as it manufactures copper right from the stage of mining to beneficiation, smelting, refining, and casting of refined copper metal into downstream saleable products.