π Hindustan Copper stock dips on government OFS
Hindustan Copper shares dropped up to 6% to Rs 540 on the BSE after the Union government opened an OFS to divest a 3% stake. The offer has a floor price of Rs 514 per share, which is about a 10% discount from the previous closing price of Rs 573.55. Non-retail investors can bid starting Tuesday, August 25, while retail investors get their chance on Wednesday, August 26. This move is part of the government's disinvestment programme to increase public shareholding. Furthermore, the government can sell an extra 3% if the initial offer is oversubscribed. π°