New Delhi, 25 August (H.S.): The government's offer for sale (OFS) to sell up to a 6 per cent stake in public sector undertaking Hindustan Copper Ltd (HCL) opened for institutional investors on the stock exchanges on Tuesday. The floor price for the share sale has been fixed at Rs 514 per share.

The government has set a floor price of Rs 514 per share for the sale of up to a 6 per cent stake in HCL through the OFS mechanism. On the Bombay Stock Exchange (BSE), shares of the company fell 6.37 per cent to Rs 537 during Tuesday's trading session.

Through the two-day OFS, the government plans to sell more than 5.80 crore shares of Hindustan Copper, representing a 6 per cent stake in the company. The offer also includes a 3 per cent green shoe option. The shares will be offered at the floor price of Rs 514 per share, representing a discount of around 10.5 per cent to the prevailing market price. Ten per cent of the offer has been reserved for retail investors.

The stake sale is expected to generate around Rs 3,000 crore for the government exchequer. Bidding for retail investors will open on Wednesday. The floor price is 10.38 per cent lower than Hindustan Copper's closing price of Rs 573.55 on Monday.

The government currently holds a 66.14 per cent stake in Hindustan Copper. So far in financial year 2026-27, the Central government has raised Rs 52,716 crore through disinvestment in public sector undertakings (PSUs).

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Hindusthan Samachar / Jun Sarkar