Hindustan Copper Limited, a Public Sector Undertaking under the administrative control of the Ministry of Mines, was incorporated in November 1967.
According to regulatory filings, the government will this week sell its 5 per cent stake in state-owned Hindustan Copper through an offer for sale (OFS).
The OFS will take place on Thursday and Friday through a separate, specified window of BSE Ltd and NSE, Hindustan Copper said in a filing to BSE.
“The President of India, acting and represented through the Ministry of Mines, Government of India, is the promoter of Hindustan Copper Limited,” the filing said.
The government will sell 48,351,201 equity shares representing 5 percent of the total issued and paid-up equity share capital of the company.
“The Promoter … proposes to sell 48,351,201 equity shares (representing 5 per cent of the total issued and paid-up equity share capital of the Company) of the Company as on September 16, 2021 (for non-retail investors only) and On September 17, 2021 (for retail investors and non-retail investors who choose to pursue their un-allotted bids) with an option to sell an additional 48,351,201 equity shares of … a separate, through the specified window and National Stock Exchange of India Limited (NSE),” Hindustan Copper said in a filing to BSE.
The floor price of the offer would be Rs 116 per equity share, the filing said.
Hindustan Copper Limited, 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 only integrated copper producer in the country as it manufactures copper from the stage of mining to purification, smelting, refining and molding the refined copper metal into downstream salable products.
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