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
PM Modi US Visit: Prime Minister Modi left for his four-day US visit on Tuesday. PM Modi will be
Today is the birthday of Bollywood actress Madhuri Dixit. On this special occasion, her husband S
Captain Miller Box Office Collection Day 3: Many films have been released this Makar Sankranti. F
Chhath Puja 2025: Vehicles will be prohibited from entering the city for Chhath Puja, and the road will be one-way; see the route chart here.
To ensure smooth traffic flow in the city on the occasion of Chhath Puja, the traffic police have
The scorching heat in North India has made life difficult for people. At the same time, the Meteo
The Raja Saab has exploded at the worldwide box office, collecting so many crores in just 4 days.
Whether or not the audience understood the story of Prabhas's horror-comedy film 'The Raja Saab',
Prime Minister Narendra Modi addressed young voters on National Voters' Day on Thursday. During t
Due to the Nipah virus, cases of infection have increased rapidly in Kerala in the past few days.
Amid the 'India's Got Latent' controversy, YouTuber Shwetaabh Gangwar revealed that he recently s
Will Mathura's Shahi Idgah Mosque also be surveyed? Important hearing in Allahabad High Court today
There is an important hearing in Allahabad High Court today on Wednesday (4 December) on the peti
