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

'INDIA' vs ECI: 'No permission sought yet', police on opposition alliance's march from Parliament to Election Commission

On the India Block March from Parliament to the Election Commission, the Delhi Police has said th

Prez Lee's India Visit: Korean Guests Welcomed at Rashtrapati Bhavan; Pays Tribute to Mahatma Gandhi at Rajghat.

South Korean President Lee Jae-myung is currently on a visit to India. On Monday, he was accorded

Petrol Price Hike: It has begun in India as well—premium petrol prices rise by over ₹2.

Petrol and diesel prices have started rising in India. According to reports from oil companies, t

Bomb Threats School: 40 schools in Delhi threatened to be bombed, panic created after the email; many schools closed

40 schools, including many big schools in the capital Delhi, have received bomb threats. DPS RK P

BJP attacks Rahul Gandhi over Bihar voter list release, Congress also questions final list

The Bharatiya Janata Party (BJP) launched a scathing attack on the Congress and Rahul Gandhi afte

Ola, Uber, and Rapido services have come to a halt across the country; a strike has been announced today. What are their demands?

Today, Saturday, February 7th, drivers associated with Ola, Uber, and Rapido across the country h

T20 World Cup 2024: The deadline was May 1, so why was the Pakistan squad not announced? Know the whole truth here

Pakistan Cricket Board has postponed the announcement of the squad for the upcomin

Rahul Gandhi: Controversy over Rahul Gandhi's visit to Vietnam, BJP called it an insult to late former Prime Minister Manmohan Singh

The war of words between BJP and Congress, which began after the death of former Prime Minister D

IPL 2026: Why did Rishabh Pant step out to open? Will this strategy continue? The Lucknow captain also revealed the reason behind the defeat.

In the IPL 2026 season, the decision by Lucknow Super Giants (LSG) captain Rishabh Pant to open t

Lok Sabha Election: Notification released for the first phase of Lok Sabha elections, nomination begins on 102 seats; Voting will be held on 19th April

Lok Sabha Election 2024: Notification has been issued for the first phase of Lok Sabha elections.

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