
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
A large number of people are expected to head to restaurants, bars, and markets from Wednesday ev
There has been a slight increase in the cases of corona in the country. The Health Ministry said
Google Pixel 7A launch date revealed phone will be launched this week, know the features and price
Google has prepared to launch its new mid-range phone Google Pixel 7a in India. This phone will b
The death of former Karnataka Chief Minister SM Krishna has caused a wave of mourning in the poli
Earthquake in Delhi: Earthquake tremors in Delhi-NCR, epicenter was in Faridabad, Haryana
Earthquake in Delhi-NCR: Earthquake tremors have been felt once again in Delhi-NCR. These tremors
Koi Mil Gaya: 'Jadu' coming on screen again, 'Koi Mil Gaya' to be re-released after 20 years
Remember Hrithik Roshan's film 'Koi Mil Gaya'? This film, which came in the year 2003, had a lot
Protests are being held against the Waqf Amendment Act in West Bengal's Murshidabad district. Vij
US President Donald Trump, addressing the US Congress, made a major statement on the India-Pakist
Even after the turmoil in Venezuela, Trump's stance remains unwavering. He has threatened Venezue
The world's largest religious-cultural gathering Maha Kumbh 2025 has started in Prayagraj from Mo