New Delhi, Aug. 25 -- The government's discounted offer for sale (OFS) in Hindustan Copper Ltd received strong demand from institutional investors on the opening day, with bids reaching 3.41 times the shares on offer, prompting the Centre to exercise the entire greenshoe option to meet excess demand.

Taking to social media platform X on Tuesday, Department of Investment and Public Asset Management (Dipam) secretary Arunish Chawla said that the OFS had received an enthusiastic response from institutional investors and was oversubscribed 3.41 times on the first day. "The government will now sell the additional shares available under the green-shoe option," he said.

The government on Monday offered to sell a 3% stake in Hindustan Copper, o...