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

Salman Khan: Salman Khan will not step back from his commitment, and will start shooting for Bhaijaan Sikander amid tight security

'Once I commit, I don't even listen to myself' This dialogue from the film Wanted seems

Pakistan became a fan of Dhurandhar, which is banned in Gulf countries; people of the neighboring country are shocked to see this scene!

Aditya Dhar's directorial venture, Dhurandhar, is receiving both praise and criticism. The film h

IND vs NZ Playing 11: This is Samson's last chance to regain form before the World Cup; will Ishan Kishan and Axar Patel make a comeback?

The final match of the five-match T20 series between India and New Zealand will be played in Thir

Rakhi Sawant: Amidst Diljit Dosanjh controversy, Rakhi Sawant praised Aamir Khan, users got angry

While Diljit Dosanjh is being criticized for casting Pakistani actress Hania Amir in the Punjabi

Rishabh Pant Jersey: Pant made a comeback wearing Virat Kohli's jersey number 18, funny stump mic comments went viral

India's star wicketkeeper-batsman, Rishabh Pant, made his national comeback on Thursday in the un

Rahul Gandhi: Troubles will increase for NDA leaders who made objectionable comments about Rahul, Congress took strict action

National Democratic Alliance (NDA) leaders are continuously making objectionable statements again

IPL 2025: Mumbai captain Hardik is happy after scoring a four off victory, said- I am happy that the team is going in the right direction

Mumbai Indians captain Hardik Pandya is very happy after winning four consecutive matches in IPL

MI vs RCB: After 10 years, Bangalore defeated Mumbai at Wankhede, Krunal Pandya shone after Kohli-Patidar

On the strength of Krunal Pandya's lethal bowling, Royal Challengers Bangalore (RCB) defeated Mum

Bengal: CM Mamata said- 12 thousand policemen will be recruited soon; Patient welfare committees dissolved in government hospitals

West Bengal Chief Minister Mamata Banerjee has said that the Trinamool Congress government will s

Lok Sabha Election Result 2024: 'If you see anything wrong then...' Congress issued helpline numbers for workers, Kharge said this big thing

Only a few hours are left for the counting of votes for the Lok Sabha elections in 2024. The coun

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