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.

 

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

Other news

Bihar Election 2025: Will Amit Shah discuss seat sharing and candidates for the Bihar elections today? The agenda of the meeting decided.

Amit Shah, former national president of the Bharatiya Janata Party and currently the organization

Gaslight Sara Ali Khan: On the set of 'Gaslight', Sara felt haunted, and heard strange voices in Wankaner palace

All types of movies are shown in Bollywood, romantic, action, comedy, and horror. Everyone has th

Grok Row: X is responsible for the controversial content of the AI tool 'Grok'; Government sources make a big claim amid the controversy

Social media platform X (formerly Twitter) may be responsible for all the content created by its

Support for the Waqf Amendment Act proved costly, mob set BJP leader Askar Ali's house on fire.

In Manipur, BJP leaders had to pay a heavy price for supporting the Waqf Amendment Act. The mob s

MEA: These important agreements were signed during the Foreign Minister's visit to Russia, know why the Kudankulam Nuclear Power Plant is important

Indian Foreign Minister Dr. S. Jaishankar's visit to Russia has been completed. Many important ag

Delhi Blast: There was a plan to carry out blasts at four locations; gangs of two were formed; this dispute was between Umar and Muzammil; new revelations

Another new revelation has emerged in the Delhi bomb blast case. Approximately eight suspects had

IndiaVsCanada Row: 'Have to talk to each other, have to see how they take it forward, Jaishankar on the India-Canada dispute

Amidst the ongoing tension with Canada, Foreign Minister S Jaishankar said that the governments o

Lok Sabha Election 2024: In the first 'Ran', along with the candidates, voters will also be tested, Election Commission is on alert mode, and information is being collected from moment to moment.

Today the wait for voting in the great festival of democracy is over. Voting for the fi

IPL 2025: Kohli's RCB became champion for the first time, became the eighth team to win the trophy, defeated Punjab in the final

Royal Challengers Bangalore has won the IPL 2025 title. The wait of 18 seasons is over. Finally,

Saif Ali Khan was attacked with a knife, a thief entered his house and stabbed him 6 times; Lilavati Hospital gave an update.

Big news has come out about Bollywood actor Saif Ali Khan. When he was sleeping peacefully at hom