Government announces OFS in Hindustan Aeronautics Ltd

The President of India, acting through and represented by the Department of Defence Production, Ministry of Defence, Government of India (the "Seller"), being the selling promoter member propose to sell upto 58,51,782 equity shares of Hindustan Aeronautics Limited (the "Company") of face value of Rs. 10.00 (representing up to 1.75% of the share capital of the Company) ("Offer Size") along with an option to additionally sell 1.75% (58,51,781) equity shares of the Company (the "Oversubscription Option" and in event the Oversubscription Option is exercised, the equity shares forming part of the Base Offer Size and the Oversubscription Option will represent 3.50% (11,703,563) equity shares of the Company, and will collectively, hereinafter be referred to as "Offer Shares". In case the Oversubscription Option is not exercised, the equity shares forming part of the Base Offer Size will hereinafter be referred to as "Offer Shares") on March 23, 2023 ("T Day") (for Non-Retail Investors only) and on March 24, 2023 ("T+1 Day") (for Retail Investors and for Non-Retail Investors from T Day, who choose to carry forward their un-allotted bids) (the Equity Shares forming part of the Offer Size will hereinafter be referred to as the "Sale Shares"), through a separate, designated window of BSE Limited ("BSE").

The floor price of the Offer shall be Rs.2450.00/- (Rupees Two Thousand Four Hundred and Fifty Only) per Equity Share.

Shares of Hindustan Aeronautics Limited was last trading in BSE at Rs. 2625.20 as compared to the previous close of Rs. 2649.90. The total number of shares traded during the day was 19179 in over 2323 trades.

The stock hit an intraday high of Rs. 2675.00 and intraday low of 2616.30. The net turnover during the day was Rs. 50667379.00.

Source : Equity Bulls

Keywords

HindustanAeronautics INE066F01012 HAL Aerospace OFS GovernmentofIndia FloorPrice