Hindustan Copper share price rebnds 3.5% a day after 7% fall

Share Price: Shares of Hindustan Copper opened on a strong note on Wednesday, August 26, surging 3.49 per cent to Rs 551.80 per share during morning trade. The stock declined as much as 7.04 per cent to close at Rs 533.20 on Tuesday. The surge came as 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. Non-retail investors subscribed 3.41 times the OFS on Day 1, while retail investors and eligible employees will bid today. 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.