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.


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

Mukhtar Ansari: Mukhtar Ansari sentenced to ten years in gangster case, fined five lakhs, Afzal sentenced to 4 years

In the Additional Sessions Judge First / MP-MLA court, the verdict was pronounced in the ongoing

SRH vs PBKS: Feeding Markandey in place of Rashid… Aiden Markram revealed on the team change

In IPL 2023, Hyderabad registered their first win by defeating Punjab on Sunday. In the last two

Ponniyin Selvan 2 Trailer: PS 2 trailer launch in presence of Aishwarya Rai and Mani Ratnam

Ponniyin Selvan 2 Trailer: The trailer of Aishwarya Rai Bachchan's much-awaited film PS2 has been

SL vs IRE: Record-breaking partnership of Dimuth Karunaratne and Kusal Mendis, Sri Lanka made huge score on the first day

Captain Dimuth Karunaratne (179) and Kusal Mendis (140) scored centuries as Sri Lanka made a huge

Arvind Kejriwal: The question of spending crores of rupees on the bungalow or an attempt to influence the image, what is the truth of the matter?

Rs 45 crore has reportedly been spent on the reconstruction of Arvind Kejriwal's chief minister's

Bloody Daddy Ott Release Date: Shahid Kapoor will leave the theater and return to digital, 'Bloody Daddy' released on OTT on this day

Bloody Daddy Ott Release: Kabir Singh Shahid Kapoor of the film world is going to be seen in back

Gudi Padwa 2023 Date: Gudi Padwa today, know the auspicious time and religious significance

Gudi Padwa 2023: Many types of religious festivals and festivals are celebrated in Hinduism. One

Gigi Hadid: This famous designer of the Bachchan family designed Gigi Hadid's saree, it took a whole year to prepare

The Nita Mukesh Ambani Cultural Center (NMACC) held in Mumbai saw a gathering of Bollywood and Ho

DC vs MI IPL 2023: The last over was high voltage drama, due to these mistakes Mumbai snatched victory from Delhi

Mumbai Indians Win IPL 2023 First Match Against Delhi Capitals. In the 16th match of IPL 2023, Mu

CM Yogi In Gorakhpur: CM Yogi Adityanath did Rudrabhishek in Gorakhnath temple, planted Harishankari saplings

Chief Minister Yogi Adityanath, who came to Gorakhpur on a four-day tour, wished for public welfa

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