New Delhi, Aug. 24 -- The Government of India has proposed to sell a 3 per cent stake in Hindustan Copper Limited (HCL) through an Offer for Sale (OFS), with the possibility of increasing the sale by another 3 per cent if the issue is oversubscribed, according to a social media post by the DIPAM Secretary.

The government has fixed a floor price of Rs 514 per share for the OFS. At this price, the offer is Rs 53 below Hindustan Copper's closing price of Rs 567 per share on the National Stock Exchange on Friday.

The floor price is around 9.3 per cent lower than the Friday closing price.

DIPAM Secretary stated, "Government of India offers to divest 3 per cent equity in Hindustan Copper Limited (HCL) through an Offer for Sale (OFS), with an...