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Home News Hindustan Aeronautics OFS sees strong demand, oversubscribed 4.5 times

Hindustan Aeronautics OFS sees strong demand, oversubscribed 4.5 times

Mumbai The public authority’s proposal available to be purchased (OFS) of a piece of its stake in Hindustan Air transportation Ltd saw solid interest from non-retail financial backers and was bought in 4.5 times, as per NSE information on Thursday.

It got offers for 237.6 lakh shares, while 52.6 lakh shares were advertised. The demonstrative cost for the offers was more than the base worth of 2,468.98, 2,450 for every offer.

Ensuing to areas of strength for the, the public authority will practice its green shoe choice for an extra 58.5 lakh shares, taking the absolute deal size to 117 lakh shares. Retail financial backers will actually want to offer for the offers on Friday.

“The proposal available to be purchased of Government partakes in HAL got a breathtaking reaction right off the bat. Bought in 4.5 times the base size by non-retail financial backers at the clearing cost over the floor cost. The Public authority has chosen to utilize the Green Shoe choice. Retail financial backers have an opportunity to offer tomorrow,” DIPAM Secretary Tuhin Kanta Pandey said in a Twitter post on Thursday.

In spite of positive reaction to the deal, Hindustan Aviation shares shut down 4.9% 2,496.35 on the NSE at Rs. As on 31 December 2022, the public authority held 75.15% stake in Hindustan Flight. Current market cap of the organization 83,475 crores.

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