Hindustan Copper share price falls 7% due to goverment

Hindustan Copper share price: Shares of Hindustan Copper opened on a weak note on Tuesday, August 25, falling 6.89 per cent to Rs 534.05 per share during morning trade. Share of the company closed at Rs 573.55 on Monday. The decline came after the government announced plans to divest up to a 6 per cent stake in Hindustan Copper through an Offer for Sale (OFS), including a 3 per cent green shoe option. Hindustan Copper OFS

The Department of Investment and Public Asset Management (DIPAM) Secretary said the government will divest a 3 per cent stake in Hindustan Copper through an Offer for Sale (OFS). The government has also kept an option to sell an additional 3 per cent stake if the issue is oversubscribed.