India Sells 6% Stake in Hindustan Copper via OFS

The Government of India launched an Offer for Sale (OFS) to divest its stake in Hindustan Copper Limited, initially offering 3% of the company's equity. The sale opened on August 25, 2026, with a floor price of Rs 514 per share, representing a 10.5% discount to the August 24 closing price. While the announcement initially caused shares to drop between 6% and 7.45%, institutional investors responded enthusiastically, oversubscribing the first day of bidding 3.41 times.

Due to this demand, the government exercised a full greenshoe option, doubling the total stake sale to 6%. This move is expected to raise nearly Rs 2,982 crore, contributing to a broader disinvestment program that has already raised Rs 52,716 crore in the current fiscal year. The high demand for the shares was supported by record copper prices driven by the growth of data centers, electric vehicles, and power grids.

The retail portion of the sale opened on August 26, with 10% of the issue reserved for retail investors and 25,000 shares reserved for employees. Bids were accepted through the National Stock Exchange and Bombay Stock Exchange until 3:30 pm on Wednesday, with final settlement scheduled for August 27.