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Informist, Tuesday, Aug. 25, 2026

 

--Divest secy: Govt to exercise 3% greenshoe option in Hindustan Copper OFS

--Divest secy: Hindustan Copper OFS oversubscribed 3.41 times Tue

 

NEW DELHI – The government will exercise the greenshoe option and sell an additional 3% in Hindustan Copper Ltd. through an offer for sale, Divestment Secretary Arunish Chawla said Tuesday. The government had offered to sell up to 6% stake in the company through an offer for sale, including a base issue size of 3% and a greenshoe option of 3%. The issue opened Tuesday for non-retail investors. Retail investors and employees can bid Wednesday.

 

"Hindustan Copper Ltd. Offer for Sale (OFS) received an enthusiastic response from institutional investors and was oversubscribed 3.41 times on Day One," Chawla wrote in a post on X. "The Government has decided to exercise the entire green shoe option." Chawla had said Monday that 10% of the offer is reserved for retail investors, with an additional 25,000 shares reserved for eligible employees.

 

The offer for sale opened at a floor price of INR 514 per share, a 10% discount from the stock's closing price of INR 574.15 on the National Stock Exchange Monday. Tuesday, the shares fell further and closed at INR 532.65, down 7.2% from Monday.

 

The government holds 66.14% in Hindustan Copper. A 6% stake sale will lower its share to 60.14%. At the floor price, the government will earn nearly INR 30 billion from the entire 6% stake sale.

 

So far, the government has collected INR 527.16 billion from divestment receipts in the financial year 2026-27 (Apr-Mar), more than triple the amount collected in the whole of FY26. The government has collected more than INR 527 billion from disinvestment only twice before--INR 850 billion in FY19 and INR 1 trillion in FY18.

 

Including asset monetisation, the government has collected INR 590.83 billion as miscellaneous capital receipts so far in FY27, nearly 74% of the full year's target of INR 800 billion. In FY26, it had collected INR 453.06 billion as miscellaneous capital receipts, beating the revised Budget estimate by INR 115 billion.

 

In the quarter ended June, Hindustan Copper reported a net profit of INR 3.5 billion, nearly three times the profit reported in the year-ago period, with its total income shooting up 81% to INR 9.54 billion.  End

 

Reported by Priyasmita Dutta

Edited by Rajeev Pai

 

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