The President of India, through the Ministry of Mines, plans to sell up to 5.8 million shares, or 6% of Hindustan Copper's (BOM:513599, NSE:HINDCOPPER) equity, through an offer for sale on Aug. 25 and 26, according to a Monday filing with the Indian exchanges.
The base offer covers 29 million shares, or 3%, with an option to sell an additional 3% at a floor price of 514 rupees per share.
Non-retail investors can bid on Aug. 25, while retail investors and employees can bid on Aug. 26, with the government reserving 25,000 shares for eligible employees.
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