Hindustan Copper share sale price fixed at 155 rupees/share - sources
MUMBAI (Reuters) - The base price for sale of the government's 4 percent stake in state-run Hindustan Copper Ltd(HCPR.NS) has been fixed at 155 rupees a share, two sources with direct knowledge of the matter said on Thursday.
The share sale, to be launched on Friday, will raise 5.74 billion rupees at the floor price. Shares in Hindustan Copper ended 11.3 percent higher on Thursday at 266.15 rupees.
The government, which owns 99.6 percent of Hindustan Copper, said on Wednesday it would sell a 4 percent stake in the company through auction of shares.
The government aims to raise 300 billion rupees through share sales in state-run companies in the current fiscal year that ends in March, but has thus far drawn a blank as weak market conditions have deterred public issues or auctions. (Reporting by Sumeet Chatterjee; Editing by Prateek Chatterjee)
- Tweet this
- Share this
- Digg this
- Timeline: Case of Devyani Khobragade, Indian diplomat arrested in New York
- Karnataka High Court annuls United Spirits sale to Diageo
- Tom Cruise settles defamation lawsuit with publisher
- Domino's outlet attacked in India as U.S. diplomatic dispute simmers
- Govt presses Supreme Court to drop gay sex ban
India said on Saturday that it had transferred Devyani Khobragade, the diplomat at the centre of a row with the U.S., to its U.N. delegation, a move that it hopes will give her protection from prosecution for visa fraud and underpaying a maid. Article | Slideshow