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.
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
Singer Diljit Dosanjh dedicated his concert in Guwahati to former Prime Minister Manmohan Singh.
The United Nations General Assembly has accepted the resolution moved by India. Under this propos
Transformers Rise Of The Beasts Review: The flight of imagination in Hollywood cinema has attaine
SSC MTS Final Result 2023: The Staff Selection Commission has released the final result of the Mu
When the police stopped the people forcibly taking out a Moharram procession on a prohibited rout
Mukesh Ambani's younger sons Anant Ambani and Radhika Merchant are going to get married on July 2
The Afghanistan team made a big upset by defeating England in the Champions Trophy 2025. Due to t
Twitter Logo: The bird flew away, and the dog came, Elon Musk made this change in the Twitter logo
Elon Musk changed the logo of Twitter on Tuesday. Now the dog is visible in the logo instead of t
On Saturday, inside the Pragati Maidan tunnel, miscreants looted a bag containing two lakh rupees
MHT CET Result 2023: Maharashtra Joint Entrance Exam result for PCM, PCB declared, check this way
The results of the entrance examination conducted for Physics, Chemistry and Mathematics (PCM) an
