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

Ram Mandir Pran Pratishtha: CM Yogi did Pran Pratishtha of eight deities including Ram Darbar, see photos

Chief Minister Yogi Adityanath performed Pran Pratishtha of the supplementary temples built in th

Father's Day 2023: If you want to strengthen your relationship with your father, then these tips can be very useful for you.

Father's Day 2023: Often people are unable to give time to their parents due to busy lifestyles.

BJP-NCP relations sour amid Maharashtra elections! Devendra Fadnavis said- 'Ajit Pawar did not do the right thing, we are Shiv Sena...'

Senior BJP leader and Maharashtra Deputy CM Devendra Fadnavis has made a big statement about NCP

Haryana Election: Brijendra will contest against Dushyant, Anirudh will contest against Shruti; Congress changed candidates on 6 seats

Congress has released its second list of candidates for the assembly elections to be held on Octo

Nine schools in Delhi received bomb threats; security agencies are on high alert; bomb disposal squads are at the scene.

Panic gripped the national capital Delhi on Monday morning when nine prominent schools in differe

India-France: India will set up DRDO's technical office at the Embassy in Paris, what will be the benefit of this; know

Prime Minister Narendra Modi's two-day tour of France has been completed and now he has reached U

Uttarakhand Board Result: Piyush Kholia and Kanchan Joshi topped in Intermediate, scoring 488 marks out of 500.

Uttarakhand Board class 10 and 12 results have been declared. The intermediate result has been 82

Anushka-Virat: Anushka Sharma told the secret of Kohli's fitness, revealed before the Adelaide Test

Indian batsman Virat Kohli is counted among the fittest cricketers in the world. He recently scor

Ram Mandir: Ayodhya Pran Pratishtha time announced; event to be held on January 22 at 12:20 pm

Prime Minister Narendra Modi on Monday spoke to Uttarakhand Chief Minister Pushkar Singh Dhami ov

Maharashtra: 'Maharashtra will soon get a third deputy chief minister', Sanjay Raut's big attack on Shinde faction

Shiv Sena (Uddhav Balasaheb Thackeray) leader and Rajya Sabha MP Sanjay Raut has made a big claim

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