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    HomeNewsBusinessCompaniesHind Copper share sale price fixed at Rs 155/sh: Sources

    Hind Copper share sale price fixed at Rs 155/sh: Sources

    The base price for sale of the government's 4 percent stake in state-run Hindustan Copper has been fixed at Rs 155 a share, two sources with direct knowledge of the matter said on Thursday.

    November 23, 2012 / 09:49 IST
       
       
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      The base price for sale of the government's 4 percent stake in state-run Hindustan Copper has been fixed at Rs 155 a share, two sources with direct knowledge of the matter said on Thursday.


      The share sale, to be launched on Friday, will raise Rs 574 crore at the floor price. Shares in Hindustan Copper ended 11.3 percent higher on Thursday at Rs 266.15.


      The government, which owns 99.6 percent of Hindustan Copper, said on Wednesday it would sell a 4 percent stake in the company through auction of shares.


      The government aims to raise Rs 30,000 crore through share sales in state-run companies in the current fiscal year that ends in March, but has thus far drawn a blank as weak market conditions have deterred public issues or auctions.

      first published: Nov 22, 2012 04:32 pm

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