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

Rekha Gupta Attack: The attacker was doing recce for 24 hours... video surfaced; Minister Pravesh Verma said this

A new revelation has been made in the case of the attack on Delhi Chief Minister Rekha Gupta. Del

Shehnaaz Gill gave a befitting reply to Salman Khan's advice to 'move on', fans were surprised

Kisi Ka Bhai Kisi Ki Jaan: Bollywood superstar Salman Khan is in discussion these days about his

IND vs NAM: Will Abhishek Sharma miss the Namibia game? Bumrah practices; Washington joins the team

India is scheduled to play against Namibia on Thursday in the T20 World Cup. Ahead of this, worry

The new X logo replaced the blue bird on Twitter, the dashboard turned black; read all details

Big changes are afoot on Twitter. Elon Musk, the owner of the social media platform Twitter, anno

Delhi-NCR Weather Update: Storm will blow... lightning will thunder, possibility of rain in NCR; weather will remain like this for a week

The people of Delhi-NCR have been getting relief from the humid heat for the last three days. The

Bhool Bhulaiyaa 3: Before the release of the film, the director improved Tripti's image, made a big claim about the actress

Bhool Bhulaiyaa 3 is all set to release in theatres this Diwali. The film stars many star actors

Maha Kumbh 2025: 24x7 treatment will be available at railway stations, heart disease and diabetes patients will get these facilities

The final preparations for the Prayagraj Mahakumbh to be held in Uttar Pradesh are in full swing.

IND W vs SL W: India start Women's World Cup with a win, defeating Sri Lanka; Deepti shines in all-round performance

Riding on an all-round performance from Deepti Sharma, the Indian women's team defeated Sri Lanka

ISRO: ISRO chief Somnath said, the agency will send women fighter test pilots in future manned missions.

ISRO chief S Somnath on Sunday said women combat test pilots will be sent to space in future mann

Disha Patani's soldier sister got angry about the Pahalgam terrorist attack, and said - 'Let the war happen now'

Terrorists have created a havoc of death in Pahalgam, Jammu, and Kashmir, which is called heaven

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