Hindustan Copper falls 8% on discounted floor price for OFS

The stock dipped 8% to Rs 65.25 after the government fixed floor price of Rs 64.75 per share for OFS

Hindustan Copper dipped 8% to Rs 65.25 on BSE in early morning trade after the government fixed floor price for its offer for sale at Rs 64.75. The floor price is at a discount of 8.35% over Tuesday’s closing price of Rs 70.65 on the BSE.

The government will sell 37 million equity shares in Hindustan Copper at a floor price of Rs 64.75 apiece through a two-day offer-for-sale (OFS) beginning today, with an option to issue a similar number of shares in case of over subscription.

“The President of India, acting through and represented by the Ministry