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TMI BlogGovernment disinvests 6.83% of equity in Hindustan Copper Limited: Likely to raise ₹ 400 crore from this Offer for Sale (OFS).X X X X Extracts X X X X X X X X Extracts X X X X ..... Government disinvests 6.83% of equity in Hindustan Copper Limited: Likely to raise ₹ 400 crore from this Offer for Sale (OFS). - News and Press Release Dated:- 4-8-2017 - News - The Government of India has disinvested 6.83% of paid up equity in Hindustan Copper Limited through Offer for Sale (OFS). The Government is likely to get approximately ₹ 400 crore from this disinvestment. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trading took place on 2nd and 3rd August 2017. The floor price was fixed at ₹ 64.75 per share (Face value ₹ 5/- each) and retail investors were offered discount of 5% on the cut off price for the Non-Retail Category. The initial offer was for disinvestment of 4% paid-up capital, with an option to retain over-subscription up-to 4%. The trading for Non Retail portion opened on 2nd A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ugust, 2017. Against an offer size of 2.96 crore shares for the Non Retail Category, bids were received for 5.05 crore shares, resulting in over subscription by 1.71 times. As a result, the Government revised the total offer size to 6.83% of the paid-up capital. The retail portion of HCL OFS also got good response from the retail investors and the revised offer size of 1.26 crore shares also g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot fully subscribed. Overall, HCL OFS got good response from the investors. This is the 4th CPSE OFS in the Current Financial Year 2017-18. The Government s shareholding in HCL after this OFS will come down to 76.05%. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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