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

BSEB 12th Result 2023: Check the result of the Bihar Board Intermediate Exam like this, this is the easy process

Bihar Board 12th Result Out Bihar School Examination Board (BSEB) is going to release the result

Rohit-Virat: 'If you want to play for India, playing domestic cricket is mandatory', BCCI's strict message to Kohli-Rohit

The Board of Control for Cricket in India (BCCI) has sent a clear message to two of the country's

MP Board Result 2026: MP Board Class 10th and 12th Results Expected Soon; Results Can Also Be Checked via DigiLocker.

Students who appeared for the Class 10 and 12 examinations, conducted by the Madhya Pradesh Board

Grand welcome for PM Modi in Sri Lanka, 5 ministers welcomed him with guard of honor

Prime Minister Narendra Modi has arrived in Sri Lanka on a three-day visit after his visit to Tha

'Hindus converted to Islam on a large scale in Bengal', claims NCBC chairman – Many Bangladeshis included in OBC list

West Bengal Hindu conversion Hansraj Ahir, chairman of the National Commission for Other Backward

Game Changer Trailer: Date and time of Ram Charan-Kiara Advani's 'Game Changer' trailer has been decided, it will be released on this day

The film Game Changer directed by global star Shankar Shanmugam is all set to enthrall the audien

The story of a Bangladeshi Hindu: He said there is no security here; 400 people attacked his house, everything was destroyed

India won six medals in the Paris Olympics in 2024, but the country's performance was worse than

Germany Gurdwara Clash: Violent Clashes at German Gurdwara, 11 Injured; Guns, Kirpans, and Pepper Spray Used

A sudden, violent clash erupted between two factions at a Gurdwara located in the Duisburg distri

Pakistan is behind the Khalistanis in Canada and Indians are the target, a new conspiracy revealed

Khalistani supporters (PKE) in Canada are continuously targeting the people of the Indian communi

Bulldozer action continues at Turkman Gate; 11 arrested so far in the stone-pelting case; Maulana Rashid says, "No action should be taken against innocent people."

Police have intensified their crackdown following the anti-encroachment drive in the Turkman Gate

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