Hindustan Copper OFS: Institutional buyers oversubscribe 3.41x on day 1; govt to exercise green shoe option

Institutional investors subscribed for over 8.91 crore shares, as against the 2.61 crore shares reserved for them. At an indicative price of ₹520.35 per share, the bids are valued at over ₹4,600 crore.

The government of India, which owns a majority stake in the copper mining company, is selling over 5.80 crore shares or up to 6% (including 3% green shoe option) of its holdings in Hindustan Copper through a two-day OFS at a floor price of Rs 514 apiece.

The OFS for the additional 3% stake in Hindustan Copper will open for retail investors on Wednesday, August 26, 2026.

The floor price was set at a 10.38% discount to Monday's closing share price.

"The government has decided to exercise the entire green shoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said on X.

“In this connection, we wish to exercise the oversubscription option to the extent of 2,90,10,721 equity shares (representing 3.00% of the total paid-up equity share capital of the company) in addition to 2,90,10,721 equity shares of the company (representing 3.00% of the total paid-up equity share capital of the company) forming a part of the base offer size,” according to a regulatory filing dated August 25.

Accordingly, the total offer size will be up to 5,80,21,442 equity shares (representing 6% of the total paid-up equity share capital of the company) of which 58,02,146, i.e., 10% of the offer, would be available for the retail Category on Wednesday, August 26, subject to receipt of valid bids, as part of the offer, the company further stated.

Additionally, 25,000 equity shares of the company (equivalent to 0.0026% of the total issued and paid-up equity share capital) will be offered to eligible employees of Hindustan Copper through the stock exchange mechanism, in accordance with the terms and conditions provided in the OFS guidelines.

The government currently has a 66.14% equity holding in Hindustan Copper.

So far in the current fiscal year, the government has mopped up ₹52,716 crore via PSU disinvestment through OFS in eight PSUs and remittances from SUUTI. For the full FY27 financial year, the budget has set a target of Rs 80,000 crore to be raised from disinvestment and asset monetisation.

Hindustan Copper stock performance

Shares of Hindustan Copper closed 7.23% lower at ₹532.65 per unit on the National Stock Exchange (NSE) on Monday.

The scrip has lost 6% in the past week but gained 10% over the month. On a year-to-date (YTD) basis, it has jumped 2%.

While the stock hit a 52-week high of ₹760.05 per equity share on January 29, 2026, it touched a year’s low of ₹226.70 apiece on August 28, 2025.

Hindustan Copper has a total market capitalisation of ₹51,387.66 crore as of August 25, 2026, according to data on the NSE.