Breaking News

You are here » Indian-Commodity  :  Corporate  :  Government divests 6.83% stake in Hindustan Copper

04-Aug2017

Government divests 6.83% stake in Hindustan Copper

The government has disinvested 6.83% stake in Hindustan Copper (HCL), which would fetch the exchequer around Rs 400 crore. Through the two-day Offer for Sale (OFS) which ended on August 3, 2017, it had planned to sell 4% stake in the company, with an option to retain an over subscription of up to 4%.

Institutional investors bid for 5.05 crore shares, which is 1.71 times the 2.96 crore shares on offer for them. The retail portion also got good response from the retail investors and the revised offer size of 1.26 crore shares also got fully subscribed.

Hindustan Copper's principal activities include mining of copper ore, concentration of copper ore into copper concentrate through a beneficiation process and also smelting, refining and extruding of the copper concentrate into refined copper in downstream saleable products.




Related News

View all news

Zydus Wellness launches Sugar Lite: Report

Zydus Wellness has reportedly launched a new variant Sugar Lite. The company launched the product first in e-commerce platforms and it is in the process of reaching out to retail outlets. Zydus Wellness......

Bombay Dyeing to close subsidiary in Indonesia

Bombay Dyeing & Manufacturing Company has given its consent by signing the Shareholder's Resolution of its subsidiary in Indonesia i.e. PT Five Star Textile Indonesia (PTFS) on December 17, 2018......

Glenmark Pharma presents new data on GBR 1302, HER2xCD3 Bispecific Antibody

Glenmark Pharmaceuticals has presented the new pharmacokinetic data from the ongoing Phase 1 trial of GBR 1302, a HER2xCD3 bispecific antibody, at the European Society for Medical Oncology Immuno-Oncology......

Top News

View all news

Infibeam Avenues' arm incorporates wholly owned subsidiary

Infibeam Avenues' wholly owned subsidiary-- Infibeam Global EMEA FZ-LLC has incorporated a wholly owned subsidiary company namely 'Richrelevants' in BVI, which will be the Step-down Wholly Owned Subsidiary......

Ramco Systems gets order from Global Top 10 Chemical Manufacturing Company

Ramco Systems' Global Payroll platform has been chosen by one of the leading chemical producer and a Global Top 10 Chemical Manufacturing company by revenue, as a Managed Service for its multi-country......

JCT planning to raise funds on preferential basis

JCT is planning for the fresh issuance of equity shares aggregating to Rs 9.16 crore on preferential basis to term lenders. The meeting of the Board of Directors of the Company will be held on December......