New Delhi, Aug. 24 -- The Indian government has announced its second offer for sale (OFS) this month, this time in Hindustan Copper, the state-run company engaged in copper ore mining and production. The government is looking to sell up to a 6% stake in the company through the OFS at a floor price of Rs.514 per share.

The floor price represents a 10.45% discount to Hindustan Copper's closing price of Rs.574 on the NSE on Monday. The OFS announcement comes at a time when the stock has staged a strong recovery in August, surging 17% and marking its biggest monthly gain since January.

In a post on X, Department of Investment and Public Asset Management (DIPAM) secretary Arunish Chawla said the Government of India offers to divest 3 per cen...