7% stake of Government in Hindustan Copper Limited fully subscribed and Government to get approximately ₹ 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% of paid up equity.

Government offered 6,47,65,260 shares ( comprising 7% of total paid up equity ) to public through OFS route, at floor price of ₹ 62 per share of face value ₹ 5/-. 20% 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 ₹ 400 crore from this disinvestment.