Wednesday, Apr 24 2024 | Time 18:07 Hrs(IST)
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Business Economy


7pc stake in HCL fully subscribed, Govt to get Rs. 400 cr

New Delhi, Sep 30 (UNI) The 7 per cent stake of Government of India in Hindustan Copper Limited got fully subscribed.
Government will get approximately Rs 400 crore from this disinvestment.
Hindustan Copper Limited is a vertically integrated company in the mining and metal sector, under Ministry of Mines. Government of India is the major stake holder in said CPSE, owning 89.95 per cent of paid up equity.
Government offered 6,47,65,260 shares ( comprising 7 per cent of total paid up equity ) to public through OFS route, at floor price of Rs 62 per share of face value Rs 5/-. 20 per cent of the offer size, i.e. 1,29,53,052 shares were reserved for retail category.
The trading took place on NSE as well as BSE on 29.9.2015 and 30.9.2015 for the non-retail and retail category respectively. The non retail category got oversubscribed with 1.56 times. The issue has been fully subscribed and Government will get approximately Rs 400 crore from this disinvestment.
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Rupee advances 2 paise against USD

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RBI issue Master Direction for ARCs; minimum Net Owned Fund set at Rs 300 cr

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