New Delhi, Aug. 25 -- Hindustan Copper share price plunged more than 7% in intraday deals on Tuesday, 25 August, as the offer for sale (OFS) to divest a 3% stake in the PSU company kicked off. Hindustan Copper shares opened at Rs.540 against their previous close of Rs.573.55 and dropped 7.2% to an intraday low of Rs.532.40.

The PSU stock suffered strong losses as the Indian 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. Based on the floor price, the proposed 6% stake sale is valued at around Rs. 3,000 crore, according to Mint calculations.

BSE shareholding d...