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The government has raised Rs 3,449 crore through offer-for-sale (OFS) in Hindustan Zinc Ltd by selling about 1.6 per cent stake. Through the two-day OFS on November 6-7, the government had proposed to sell over 5.28 crore shares, or 1.25 per cent stake, with a greenshoe option to retain additional subscriptions of a similar amount. As per the official data, the government has raised Rs 3,449.18 crore from the OFS. On the first day of the share sale offer on November 6, the institutional investors had placed bids for close to Rs 3,400 crore shares or about 1.58 per cent stake. Retail investors' demand was somewhat muted on November 7. The government, which held a 29.54 per cent stake in HZL before the OFS, is the largest minority shareholder in the Vedanta Group firm. The proceeds from the HZL stake sale helped to increase the disinvestment coffers of the government. In the current fiscal so far, Rs 8,625 crore has been mopped up through minority stake sales by the government. Th
The government on Thursday said it has received good interest from retail investors in the offer for sale (OFS) of Cochin Shipyard. Through the two-day OFS, the government sold a 5 per cent stake or 1.3 crore shares in Cochin Shipyard. Institutional investors on Wednesday over-subscribed the portion reserved for them. The issue opened for retail investors on Thursday. "The second day of Cochin Shipyard Limited OFS closed with good interest from retail investors. We thank all investors for their participation," Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said on X. The share sale is likely to fetch about Rs 2,000 crore to the exchequer. The government currently holds 72.86 per cent of Cochin Shipyard. Shares of Cochin Shipyard closed at Rs 1,559.80, down 1.81 per cent over the previous close on BSE.