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

Ranveer Allahabadia will get relief in the indecent comment case! The petition against the FIR will be heard in the Supreme Court today

Ranveer Allahabadia Case The Supreme Court will hear Ranveer Allahabadia's petition against the F

'How big is your role?': Siraj quipped on the question, saying - Sitting on the bench and giving water to the players...

The Indian team has won the T20 World Cup title for the second consecutive time. India defeated N

Manipur: 'First arrest today, the death penalty can be given to the culprits', CM on the incident of making women parade without cloth

Chief Minister N Biren Singh has taken a tough stand on the incident of two women being paraded w

Rahul Gandhi: Rahul Gandhi suddenly arrived at the mechanic's shop, and started repairing the bike with a screwdriver in his hand.

Senior Congress leader Rahul Gandhi visited a workshop of motorcycle mechanics in Delhi's Karol B

'Free education from KG to PG, ₹1000 per month to SC students', Part-2 of BJP's manifesto released

The Bharatiya Janata Party released the second part of its Sankalp Patra on Tuesday given the Del

Manipur Violence: Armed miscreants opened fire, Indian Army jawan was injured in retaliatory action

Manipur Crisis: Violence has been going on in Manipur for the last one and a half months. Every d

IND vs ENG: There has been tough competition between India and England in the T20, The English team is ahead in terms of winning percentage

The five-match T20 series between India and England is scheduled to begin from January 22. Before

Dharmendra got emotional on Dilip Kumar's death anniversary, shared an old photo, and said- this shock is hard to bear...

Dilip Kumar was known as the tragedy king of Hindi cinema. Dilip sahab, who ruled the film indust

Starlink: Ashwini Vaishnav first welcomed the entry of Starlink in India, later deleted the post

Recently, Jio and Airtel have partnered with Elon Musk's company SpaceX for Starlink satellite se

IPL 2023 Orange& Purple Cap: Punjab batsman snatched Orange Cap from Warner, know whose head is wearing a purple cap

In IPL 2023, two vigorous matches were played on Super Sunday. In the first match, Rinku Singh hi

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