HAL Share Price: Government is going to sell a stake in defense company HAL, minimum price of one share will be Rs 2450


Posted on 23rd Mar 2023 05:50 pm by rohit kumar

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.

 

Did you know?Explore Trending and Topic pages for more stories like this.

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

1 Like 0 Dislike
Previous news Next news
Other news

Badlapur Case: Akshay Shinde's family makes serious allegations against the police, and refuses to take the body, the administration is busy convincing them

The family of Akshay Shinde, accused in the Badlapur rape case, has made serious allegations agai

IND vs WI: Suryakumar is the face of Jersey Samson, fans surprised in India-West Indies match; Know the whole matter

The first match of the ODI series between India and West Indies is being played at the Kensington

Vijay Sethupathi: Vijay Sethupathi started shooting for 'Train', makers also released a new poster of the film.

Actor Vijay Sethupathi is in the news these days for 'Merry Christmas'. Meanwhile, he has also st

Maharashtra Polls: PM Modi will raise the election temperature by holding nine rallies in a week; Public meetings in Nashik-Dhule today

The election fever is rising with each passing day for the Maharashtra assembly elections. Leader

Trudeau on backfoot over Nijjar's murder: Said- there is no solid evidence against India; India said- Canadian PM is responsible for spoiling relations

Canadian Prime Minister Justin Trudeau has admitted that when he accused Indian agents of being i

'India and Russia can sink their economy...I don't care. Trump resorted to harsh rhetoric when India remained adamant on the trade deal.

Even after the announcement of a 25 percent duty and penalty on Indian imports from August 1, 202

Dhanteras 2024: Today is the festival of Dhanteras in auspicious yoga, know what to buy and what not to buy

Today, the festival of Dhanteras is being celebrated across the country. On this day, Lord Dhanva

Sitharaman said- If Muslims are not happy in India then why would there be more population than in Pakistan, attack on Western perception

Nirmala Sitharaman on Muslims Union Finance Minister Nirmala Sitharaman today attacked the 'negat

Assembly Polls: Today PM Modi will visit Maharashtra and Shah will visit Jharkhand; will mobilize voters by holding rapid public meetings

Voting for the 288-member Maharashtra Assembly is to be held on November 20. As the date of the e

Post Office vs. SBI RD: Where Will You Earn Higher Returns on a Monthly Investment of ₹10,000 Over 5 Years? Understand the Full Calculation.

For investors looking to build a safe and stable financial corpus over the next five years, Recur

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash