
HAL Stake Sale: The government will sell up to a 3.5 percent stake in Hindustan Aeronautics Limited (HAL) at a floor price of Rs 2,450 per share. The two-day offer for sale (OFS) will open for institutional investors on Thursday and for retail buyers on Friday.
The OFS comprises a base issue of 1.75 percent or 58.51 lakh shares. This also includes the option of retaining the over-subscription.
The government will sell a stake in HAL
HAL has said in a regulatory filing that the oversubscription option is being exercised in this sale. The Equity Shares forming part of the Base Offer Size and oversubscription option will represent 3.50 percent (1,17,03,563) Equity Shares of the Company.
what is the deal price?
The sale of a 3.5 percent stake at the floor price of Rs 2,450 per share will fetch the exchequer around Rs 2,800 crore. The floor price is at a discount of approximately 6.7 percent to the closing share price of HAL on BSE. Shares of HAL on Wednesday closed at Rs 2,625.20, down 0.93 percent, on the BSE.
The government proposes to sell 1.75% of its equity shares of the face value of Rs 10 each to non-retail investors. Apart from this, the option of selling 1.75% more stake is also open in case the issue is oversubscribed, that is, a total of 3.5% stake can be sold in this way.
HAL is a defense company
The government currently holds a 75.15 percent stake in HAL, a Central Public Sector Enterprise (CPSE) under the Ministry of Defence. The proceeds from the HAL OFS will be added to the disinvestment fund of the government for the current financial year.
The government has so far raised Rs 31,106.64 crore through disinvestment and share buyback in CPSEs. The government had last monthly revised its estimate of disinvestment revenue for the current fiscal at Rs 50,000 crore against the budgeted target of Rs 65,000 crore.
Also Read: Signature Bank : After SVB, now Signature Bank is also closed, and FDIC takes control
US President and tariff king Donald Trump has made another big bang. After imposing reciprocal ta
Actress Ameesha Patel has officially responded to reports of a non-bailable warrant issued agains
Prime Minister Narendra Modi will blow the bugle for the Delhi assembly elections on Friday. The
In Maha Kumbh, devotees are also fulfilling the pledge of cleanliness. From 13 to 31 January, 31.
Atiq targeted Muslims the most, Ashraf abducted a minor from the madrasa and raped her overnight
After the murder of Mafia Atiq Ahmed, the victims of his atrocities have also started coming forw
The Assam BJP has removed the co-ordinator of its social media team. The party took this strict a
Twitter Logo: The bird flew away, and the dog came, Elon Musk made this change in the Twitter logo
Elon Musk changed the logo of Twitter on Tuesday. Now the dog is visible in the logo instead of t
Recently Prabhas's film 'Kalki 2898 AD' has been released. This film is getting a positive respon
Prime Minister Narendra Modi will participate in the program 'India's Teched: Chips for Developed
A new twist has emerged in the Pune Porsche car accident. Pune Police has arrested the teenager's