The federal government will promote as much as 15 % stake in Hindustan Aeronautics (HAL) through provide on the market (OFS). The ground worth for the provide has been mounted at Rs 1,001 per fairness share of the corporate.
Whereas the federal government proposes to promote 3,34,38,750 fairness shares representing 10 % paid-up share capital of the corporate (base provide dimension), there may be an choice to promote a further 5 % stake or 1,67,19,375 fairness shares (oversubscription possibility).
“…in occasion the Oversubscription Possibility is exercised, the fairness shares forming a part of the Base Supply Measurement and the Oversubscription Possibility will signify 15% (50,158,125) fairness shares of the Firm,” it stated in an trade submitting.
Presently, the federal government holds an 89.97 % stake in HAL.
The stake sale will happen on a separate window of the Inventory Exchanges on August 27 and August 28, 2020. Non-retail buyers can place their bids solely on August 27, whereas retail buyers can achieve this solely on August 28.
Whereas inserting their bids on August 27, non-retail buyers can additionally point out their willingness to hold ahead their unallotted bids to the following day for allocation to them within the unsubscribed portion of the retail class. Such buyers will likely be allowed to revise their bids upward on August 28, as per the OFS Tips.
IDBI Capital Markets & Securities, SBICAP Securities and YES Securities will act as the vendor’s brokers for the provide.
First Revealed on Aug 26, 2020 06:44 pm