Disinvestment of
4.01% Government of India Shareholding in HCL through OFS Method;
Approximate
Gross Receipts would be Rs. 260 Crore.
The
Cabinet Committee on Economic Affairs (CCEA), in its meeting held on 14.9.2012,
had approved disinvestment of 9.59% paid up equity capital of Hindustan Copper
Limited (HCL) through the Offer for Sale through Stock Exchange mechanism
(OFS).
The second tranche for sale of 4.01% of the share of HCL through the Offer for Sale (OFS) route was held today, i.e. 3rd July 2013.
As against a total number of 3,71,19,152 shares on offer, a total demand of 4,38,09,524 shares were received (BSE+NSE) above the floor price of Rs. 70. The issue was subscribed 1.18 times.
The
approximate gross receipts on allotment would be Rs. 260 crore.
With this disinvestment of 4.01% of its shares, HCL would now have a non promoter shareholding of 10% thereby making it compliant with the SEBI listing requirement.
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