State-owned Hindustan Copper’s fresh follow-on public offer proposal is being initiated, with the public sector unit (PSU) deciding against a fresh equity of 10 per cent. Under the original proposal, the government would have disinvested 10 per cent and the PSU would have raised fresh equity of 10 per cent. The same was cleared by the Cabinet Committee of Economic Affairs last year.
“Hindustan Copper does not require fresh equity to support the expansion programme,” Chairman & Managing Director Shakeel Ahmed said.