Hindustan Copper OFS oversubscribed 1.01 times

State-owned Hindustan Copper witnessed gap-down opening in Wednesday’s trading session and was trading in negative territory, down by over 7%. Its offer for sale (OFS) for the non-retail investors is open today for subscription.
 
As of 1125 hours on August 2, 2017, the OFS issue has oversubscribed by 1.01 times. The issue has total size of 2,96,06,976 while it has received total subscriptions of 2,98,87,557 shares. The company has offered 4% stakes of the company through an offer for sale.
 
The OFS issue is open for non-retail investors on August 2, while for retail investors the issue is open on Thursday, August 3, 2017. The floor price for the offer shall be Rs 64.75 per equity share. Retail investors will be allocated equity shares pursuant to the offer at a discount of 5% to the cut-off price in accordance with the SEBI OFS circulars.