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.

 

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

Gonda Train Accident: New revelation in Gonda accident, this is why the train derailed; secret revealed by joint investigation report.

In the Chandigarh-Dibrugarh Express derailment on the Gonda-Mankapur rail section, the investigat

Amit Shah Rally Bihar: Amit Shah cornered Lalu-Nitish on 'Jungle Raj', read important points of the speech

Union Home Minister Amit Shah has reached Jhanjharpur in Madhubani. Here he addressed the people.

Will Suryakumar Yadav miss the first two matches for MI? Big update on star batsman's fitness before IPL 2024

Before IPL 2024, a big update is coming out regarding Mumbai Indians' star batsman Suryakumar Yad

Maharashtra: After a rift in NCP, Congress stakes claim on the post of Leader of Opposition, calls a meeting for discussion

The Congress has staked its claim on the post of Leader of the Opposition following the rift in t

IND vs ENG: Will India's 89-year drought of victory in Manchester end? Will Gill be able to surpass Gavaskar and Dhoni?

The fourth Test of the five-match series between India and England will be played from July 23 at

Sahara Refund: Till now so many people got stuck money in Sahara, 18 lakh registered on refund portal

Sahara Refund Portal Sahara group's investors have now started getting their money back. Today Un

Waqf Amendment Bill: 'No one will understand anyone's bad words or sorrows, the sky will never understand the pain of the earth', said Rijiju in Lok Sabha

Parliamentary Affairs Minister Kiren Rijiju introduced the Waqf Amendment Bill in the Lok Sabha o

Cabinet expansion in Haryana soon: Yadav, women, and the world community will get representation, they are sure to become number two.

Haryana Chief Minister Nayab Singh Saini may soon expand his cabinet after meeting PM Narendra Mo

Will 'Criminal Justice 4's Barkha Singh file a case against Shah Rukh Khan? You will be shocked to know the reason.

Actress Barkha Singh is active on OTT these days. Barkha, who was seen in the role of young lawye

World Malaria Day: Big game in malaria death figures in Delhi, only 2 patients died in 6 years

Economically weak Sri Lanka may have become malaria-free, but malaria eradication in the country'

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