The government's offer for sale (OFS) in metals major Hindustan Copper opened for retail investors today, with analysts explaining whether investors should participate in the offer.
Hindustan Copper announced on Monday that the government plans to sell a 3% equity stake in the company as part of the base offer, with an additional 3% available as a green shoe option. The floor price was fixed at Rs 514 apiece, taking the total OFS size to nearly Rs 2,982 crore. The floor price implies a discount of over 3% from the stock's previous closing price of Rs 531.40 apiece on NSE.
