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

Rajat Dalal Viral Video: 'It doesn't matter if I fell, it's my daily work' Social media influencer hits a bike rider

A video of social media influencer Rajat Dalal, who is surrounded by controversies, is going vira

Champions Trophy 2025: Afghanistan or Australia, whose luck will shine? The race for the semi-finals is very interesting.

The Afghanistan team made a big upset by defeating England in the Champions Trophy 2025. Due to t

RCB vs SRH: Sunrisers Hyderabad have the upper hand over RCB statistically, Kohli will be in focus; Hyderabad hopes for a strong top order

The opening match of the 19th season of the Indian Premier League (IPL) will be played between Su

'This is for all of us...', Salman Khan's brother-in-law said this regarding the firing at the 'Sikander' actor's house

Salman Khan has been receiving death threats for a long time. He has received threats several tim

RR vs PKBS: Shikhar Dhawan's arrogance after winning the match, said- I am doing my best

Punjab Kings have made a great start in the 16th season of IPL. In the 8th match played in Guwaha

On Army Day, the Army Chief boosted the morale of the soldiers and said - we are ready to face any challenge.

Army Chief General Upendra Dwivedi has said that the Indian Army has prepared a framework for the

America became India's largest trading partner in 2022-23, with China at number two; These countries are included in the top 5

America has emerged as India's largest trading partner in the financial year 2022-23. The increas

Stampede in Maha Kumbh: CM Yogi held a meeting with officers, senior officers will visit the spot, and some may face action.

Chief Minister Yogi Adityanath and prominent saints have issued an appeal to the devotees who hav

Munawar Faruqui in the custody of Mumbai Police late at night, the comedian was caught in a raid on a hookah bar.

Munawar Faruqui Detained: It seems that the police are keeping a close watch on the winners of 'B

Covid-19: Corona knocks in Delhi, surge in infection for the first time since May, why are cases increasing in hot weather?

Four years later, Corona remains a major risk to global health. An increase in its cases has been

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