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

Slap Gate Controversy: Harbhajan's first reaction to the leak of the video of slapping Sreesanth, lash out at Lalit Modi

The video of one of the most controversial moments in cricket, 'Slap-gate', has once again stirre

Kuch Khattaa Ho Jaay Box Office Day 1: Guru Randhawa-Sai Manjrekar's film flopped on the first day, account opened with so many lakhs

Kuch Khatta Ho Jaay Box Office Collection Day 1: Every week some film or the other hits the theat

IPL 2024: 'IPL is the best league in the world', this world-winning captain of Australia is convinced of the Indian league

The 17th season of IPL, one of the world's oldest franchise-based T20 leagues, is being played. C

CAA: Asaduddin Owaisi files petition in Supreme Court against CAA, demands ban on law enforcement

AIMIM Chief Asaduddin Owaisi has filed a petition in the Supreme Court against the Citizenship Am

The Hundred League: 'Pakistan will fire missiles at India using this very money'—Why did Aniruddhacharya lash out over the Abrar controversy?

The controversy surrounding the inclusion of Pakistani spinner Abrar Ahmed in the Sunrisers Leeds

When will volcanic ash clouds dissipate over India, and which cities will be affected? IMD has revealed.

Following a volcanic eruption in Ethiopia that had been dormant for nearly 10,000 years, a plume

IPL 2025: Ishan Kishan's heart was broken after being separated from Mumbai Indians, know what he said in his emotional post

From Deepak Chahar to Mohammad Siraj, many cricketers have become emotional about leaving their o

EPFO VISHWAS 2026 Launched: Stuck PF Claims to Be Cleared, Long-Pending Funds to Be Released

In a major relief for employers and Employees' Provident Fund (EPF) stakeholders, the Employees'

PBKS vs RCB: Punjab-RCB is one step away from reaching the final, combination will change due to the absence of players

Punjab Kings and Royal Challengers Bangalore (RCB) teams would like to maintain the momentum of t

Worship Act: Owaisi, Iqra, and Congress filed a petition, why did the Supreme Court say - there is a limit

The Supreme Court on Monday expressed strong displeasure over the filing of a new petition regard

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