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

RG Kar Case: 'Police offered bribe with daughter's dead body'; Serious Allegation by doctor's Family in Kolkata Case

The case of rape and murder of a female doctor in a Kolkata hospital is continuously growing. Alo

ITR Last Date: Today is the last date for filing an income tax return; If you miss the date of 31st July then you will get this chance till 31st December

The last date for filing Income Tax Return (ITR) for the financial year 2022-23 is July 31, 2023.

Bhool Bhulaiyaa 3 Trailer: There is talk of the trailer of 'Bhool Bhulaiyaa 3' being postponed, is 'Singham Again' the reason behind this?

Fans are eagerly waiting for the trailer of Kartik Aaryan's film 'Bhool Bhulaiyaa 3'. The trailer

MrBeast: Who is YouTuber MrBeast who left the T-Series behind, he earns a lot from these types of videos

Jimmy Donaldson, popularly known as MrBeast, has become the YouTuber with the most subscribers, l

The water crisis in Delhi: 'Two tankers are needed, only one is being sent and that too half', Delhi government's meeting on water shortage

These days, North India is facing the brunt of intense heat. In many areas, the mercury has reach

Hero Sidharth Malhotra suddenly arrived during the screening of Yodha, fans went crazy after seeing the actor in front of him.

Sidharth Malhotra has returned to theaters after a long time. The actor is entertaining fans on t

Apple WWDC 2026 Dates Revealed: iOS 27, Super-Smart Siri & Big AI Features Coming Soon

Apple has officially announced the dates for its much-awaited Worldwide Developers Conference (WW

Farmer Protest: Not only in Delhi but also in these parts of the world, farmers came out on the roads with tractors, read what are their demands.

Indian farmers are once again on the streets with their demands. Farmers want to talk to the gove

DC vs RR: Delhi and Rajasthan will be eyeing a comeback, will Karun get a chance after a brilliant innings?

Rajasthan Royals and Delhi Capitals will try to forget their defeat in the last match and make a

Kathua Cloudburst: People were sleeping... a strong current came, people ran to the roofs to save their lives, household was destroyed; there was nothing left to eat
The flood caused by a cloudburst in Kathua on Sunday morning destroyed everything. People were sleep

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