Hindustan Copper share sale price fixed at 155 rupees/share - sources

MUMBAI Thu Nov 22, 2012 4:26pm IST

Related Topics

Stocks

   

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Press Event

Press Event

Modi takes tea, but no questions, in first press event as PM.  Full Article 

Monetary Policy

Monetary Policy

Finance Minister Arun Jaitley favours interest rate cut - paper  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Reuters Poll

Reuters Poll

India's growth pace to pick up as reforms draw investment   Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage