The federal government will promote 5 per cent of its stake in state-owned Hindustan Copper by means of a suggestion on the market (OFS) this week, in line with a regulatory submitting.
The OFS will happen on Thursday and Friday by means of a separate, designated window of the BSE Ltd and NSE, Hindustan Copper mentioned in a submitting to BSE.
“The President of India, performing by means of and represented by the Ministry of Mines, Authorities of India, is the promoter of Hindustan Copper Ltd,” the submitting mentioned.
The federal government will promote 48,351,201 fairness shares representing 5 per cent of the entire issued and paid up fairness share capital of the corporate.
“The Promoter… proposes to promote as much as 48,351,201 fairness shares of the corporate (representing 5 per cent of the entire issued and paid up fairness share capital of the corporate… on September 16, 2021 (for non-retail buyers solely) and on September 17, 2021 (for retail buyers and non-retail buyers who select to hold ahead their un-allotted bids) with an possibility of moreover promote 48,351,201 fairness shares… by means of a separate, designated window of the BSE Ltd and the Nationwide Inventory Trade of India Ltd (NSE),” Hindustan Copper mentioned in a submitting to BSE.
The ground value for the provide shall be Rs 116 per fairness share, the submitting mentioned.
Hindustan Copper Ltd, a public sector endeavor below the executive management of the Ministry of Mines, was included in November, 1967.
It has the excellence of being the nation’s solely vertically built-in copper producing firm because it manufactures copper proper from the stage of mining to beneficiation, smelting, refining and casting of refined copper metallic into downstream saleable merchandise.