30.4 C
New York
Wednesday, July 28, 2021

HAL plunges 12% after its OFS opens for subscription

Must read

Setor de fertilizantes especiais do Brasil espera crescimento de 24% em 2021

Commodities8 minutos atrás (27.07.2021 20:35) © Reuters. Produtor espalhando pesticidas em campo de trigo na província de Hebei, na China. 18/03/2019 REUTERS/Stringer SÃO PAULO (Reuters) - O mercado...

Unidas tem resultado recorde no 2º tri

Ações8 minutos atrás (27.07.2021 20:35) © Reuters. SÃO PAULO (Reuters) - A Unidas divulgou nesta terça-feira resultados operacionais recordes para o segundo trimestre, puxados por...

Carrefour Brasil tem queda no lucro do 2º tri

Login/Cadastre-se grátis 0 English (USA)РусскийEnglish (UK)TürkçeEnglish (India)‏العربية‏English (Canada)ΕλληνικάEnglish (Australia)SvenskaEnglish (South Africa)SuomiEnglish (Philippines)עבריתEnglish (Nigeria)日本語Deutsch한국어Español (España)简体中文Español (México)繁體中文FrançaisBahasa IndonesiaItalianoBahasa MelayuNederlandsไทยPolskiTiếng ViệtPortuguês (Portugal)हिंदी Ações13 minutos atrás (27.07.2021...

Brisanet precifica IPO no piso da faixa estimada, movimenta R$1,44 bilhão

Ações28 minutos atrás (27.07.2021 20:15) © Reuters. Por Aluisio Alves SÃO PAULO (Reuters) - A oferta inicial de ações (IPO) da provedora de serviços de...

NEW DELHI: Shares of Hindustan Aeronautics slumped 12 per cent after the offer for sale (OFS) opened for subscription on Thursday. The government said it will sell up to 15 per cent stake in the defence firm via share sale in the next two days.

By the time of writing this report, the issue was subscribed 83.72 per cent.

The government is selling its stake at a floor price of Rs 1,001 per share through an offer for sale (OFS). The offer could fetch the exchequer around Rs 5,020 crore.

Through the OFS, the government will sell 3,34,38,750 equity shares, constituting 10 per cent paid-up share capital of the company, with an option to sell an additional 5 per cent stake or 1,67,19,375 equity shares (oversubscription option), HAL said in a regulatory filing.

The offer price is at 15 per cent discount to Wednesday’s closing price of Rs Rs 1,177.75, and the OFS will take place on August 27-28 on a separate window of the stock exchanges.

A total of 20 per cent of the offer size will be reserved for retail investors, and they will be allocated offer shares at a discount of 5 per cent to the cut-off price in accordance with the OFS guidelines.

The government owns 89.97 per cent stake in the company, which was listed in March 2018.

IDBI Capital Markets & Securities, SBICAP Securities and YES Securities (India) will be acting as the seller’s broker for the offer. Of these, IDBI Capital Markets will be acting as the settlement broker.

The stock was down 12.24 per cent at Rs 1,033.60 on BSE.

- Advertisement -

Latest article

Setor de fertilizantes especiais do Brasil espera crescimento de 24% em 2021

Commodities8 minutos atrás (27.07.2021 20:35) © Reuters. Produtor espalhando pesticidas em campo de trigo na província de Hebei, na China. 18/03/2019 REUTERS/Stringer SÃO PAULO (Reuters) - O mercado...

Unidas tem resultado recorde no 2º tri

Ações8 minutos atrás (27.07.2021 20:35) © Reuters. SÃO PAULO (Reuters) - A Unidas divulgou nesta terça-feira resultados operacionais recordes para o segundo trimestre, puxados por...

Carrefour Brasil tem queda no lucro do 2º tri

Login/Cadastre-se grátis 0 English (USA)РусскийEnglish (UK)TürkçeEnglish (India)‏العربية‏English (Canada)ΕλληνικάEnglish (Australia)SvenskaEnglish (South Africa)SuomiEnglish (Philippines)עבריתEnglish (Nigeria)日本語Deutsch한국어Español (España)简体中文Español (México)繁體中文FrançaisBahasa IndonesiaItalianoBahasa MelayuNederlandsไทยPolskiTiếng ViệtPortuguês (Portugal)हिंदी Ações13 minutos atrás (27.07.2021...

Brisanet precifica IPO no piso da faixa estimada, movimenta R$1,44 bilhão

Ações28 minutos atrás (27.07.2021 20:15) © Reuters. Por Aluisio Alves SÃO PAULO (Reuters) - A oferta inicial de ações (IPO) da provedora de serviços de...

Washington Post to mandate COVID-19 vaccinations for reporters and staff

Sign In/Free Sign Up 0 Stock Markets32 minutes ago (Jul 27, 2021 07:11PM ET) 2/2 (C) Reuters. FILE PHOTO: Two newsroom floors are seen during...