Government eyes more PSU stake sales after Hindustan Copper OFS
Business
After the strong response to Hindustan Copper's share sale, the Indian government is looking to more PSU stake sales.
With ₹52,000 crore already raised toward its ₹80,000 crore FY27 target (thanks to moves like the LIC OFS and Hindustan Copper OFS), the center seems set on keeping up the momentum.
Arunish Chawla stresses focus beyond targets
DIPAM Secretary Arunish Chawla said the focus is on not solely on meeting numerical targets.
The Hindustan Copper OFS was a hit with institutional investors, who bid 3.41 times what was available on day one, so much so that extra shares were released.
Eligible retail investors and eligible employees got their turn too, with special quotas reserved for them.
After this sale, the government's 66.14% stake in Hindustan Copper could drop further.