Discount gives Hindustan Copper a fighting chance2 min read 22 Nov 2012, 06:37 PM IST
If the government had used the market price as a benchmark for stake sale, the issue may have failed
The government’s plan of selling a partial stake in Hindustan Copper Ltd was well-publicized; so Thursday’s reaction to the formal announcement was a bit puzzling. On Wednesday, the firm announced that the government, which owns a 99.6% stake, will sell an equity stake ranging from 4% to 9.6%. Money will finally flow into the government’s disinvestment kitty, and depending on the actual stake sale, also help the company attain the 10% listing threshold.