State-run Hindustan Coppers (HCL) follow-on public offer (FPO) worth Rs 4,000 crore is likely to hit the capital market on December 06, 2010. The offering will close for bidding on December 09, 2010. The cabinet had cleared the disinvestment plans of HCL in June, report says.
The company had filed the draft prospectus with the Securities and Exchange Board of India (SEBI) in September for its proposed 20% share sale programme. In the 20% share sale, the government is selling 10% of its stake, while the company would issue fresh equity in the same proportion. With the stake sale, the governments holding will come down to 81.45% from 99.59%.
The company had filed the draft prospectus with the Securities and Exchange Board of India (SEBI) in September for its proposed 20% share sale programme. In the 20% share sale, the government is selling 10% of its stake, while the company would issue fresh equity in the same proportion. With the stake sale, the governments holding will come down to 81.45% from 99.59%.