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

Pollution: Hardeep Puri reached Berlin to find a solution to stubble burning, met the CEO of German Biogas

Air pollution is increasing in many states including Delhi NCR. From central to state governments

Delhi: Huge uproar in the House during LG's address, all opposition MLAs including Atishi suspended for the whole day

Aam Aadmi Party MLAs created a ruckus during the address of Lieutenant Governor VK Saxena in the

Water crisis in Delhi: AAP accuses Haryana of conspiracy, Atishi says- less water is being released continuously

The Delhi government has accused Haryana of conspiring to give water to Delhi. Water Minister Ati

Narendra Modi: 'We are determined to make India the third largest economy in the world': PM Modi at G20 meeting

Prime Minister Narendra Modi (PM Modi) virtually addressed the G20 meeting of trade and investmen

Amitabh Bachchan: Amitabh's love for his son was once again evident, he said- 'Abhishek, you did it'

Amitabh Bachchan never misses a chance to praise his son and actor Abhishek Bachchan. He often sh

14 people died after drinking water contaminated with human waste; lab tests revealed the truth; several patients were admitted to the ICU.

In Bhagirathpura, Indore, the cleanest city in the country, 14 people have died after being suppl

Yodha OTT Release: Make weekend plans, Siddharth Malhotra's 'Yodha' streamed on OTT, know the details

Siddharth Malhotra's film Yodha (Yodha OTT Release) has now been released on OTT after

Ajey, The Untold Story Of A Yogi: The way is cleared for the release of CM Yogi's biopic. The film will be released in theatres on this day

The film 'Ajay: The Untold Story of a Yogi' based on the life of Uttar Pradesh Chief Minister Yog

Asia Cup: Tilak and Rinku have a golden record, the only batsmen with 500+ runs, 40+ average, and 150+ strike rate in T20

In T20 International cricket, Indian batsmen Tilak Verma and Rinku Singh have made a record that

Nothing Phone 2: Nothing's flagship phone launched with an OLED display, will get up to 512GB of storage

After all the leaks, Nothing has finally launched its new phone Nothing Phone 2. This phone is an

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