Hindustan Copper Shares Slide Up to 8% on news OFS

Shares of Hindustan Copper tumbled as much as 8% on Tuesday after the Centre opened an Offer for Sale (OFS) of up to a 6% stake in the state-owned copper producer. The stock hit an intraday low near ₹529 on the NSE, reacting to the fresh supply of shares at a discounted floor price of ₹514—roughly 9.5–10.5% below the previous close of around ₹568–574. The government is offering a 3% base stake, with a green-shoe option for another 3% if demand is strong. Full exercise of the option could raise nearly ₹3,000 crore and cut the Centre’s holding from about 66% to around 60%. Non-retail investors bid on August 25, with retail participation scheduled for August 26. Early indications showed solid institutional interest, with reports of oversubscription on the first day.