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
295 eminent personalities including former High Court judges, and former bureaucrats have demande
The Indian Space Research Organization (ISRO) launched India's third lunar mission 'Chandrayaan-3
Bigg Boss 19: 'She is of Kunika's age ...', Tanya Mittal made such a comment on Malti Chahar's age
The controversial reality show Bigg Boss 19 (Bigg Boss 19) was already having a lot of drama, and
Prime Minister Narendra Modi paid tribute to Mahatma Gandhi on his 78th death anniversary and rem
Noel Tata: Who is Noel Tata? Who can take over the reins of the Tata Group after Ratan Tata?
The country's leading industrialist Ratan Tata passed away on Wednesday night. After Ratan Tata's
On Thursday, Team India was announced for the Sri Lanka tour. On this tour, Team India got a new
Sanju Samson-led Rajasthan Royals have had a great performance so far in IPL 2024. The Rajasthan
Manmohan Singh Died: Dr. Manmohan Singh did not like BMW, he used to say- my car is 'Maruti 800'
Even after becoming the Prime Minister, Dr. Manmohan Singh was a simple person. To a large extent
The US has strongly reprimanded the head of the interim government of Bangladesh, Mohammad Yunus,
Ugadi 2023: Ugadi festival will be celebrated, this day is celebrated as New Year in South India
Ugadi 2023 Date And Muhurat: Ugadi is a major festival of South India. Ugadi is also known as Uga
