Hindustan Copper all set for FPO after filing DRPH
28 Sep 2010
State-owned Hindustan Copper Limited (HCL) has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for a follow-on public offering (FPO), the company said on Monday.
The issue is expected to offer up to 18.39 crore equity shares with a face value of Rs. 5 each, including a fresh issue of 9.25 crore shares by the company and an offer for sale of 9.25 crore shares by the government, the company said in a release from its Mumbai headquarters.
The issue will constitute 18.08 per cent of the post-issue paid up equity capital of the company. ICICI Securities Ltd, Enam Securities Pvt Ltd, Kotak Mahindra Capital Co. Ltd, SBI Capital Markets Ltd and UBS Securities India Pvt Ltd have been appointed as the book running lead managers to the issue.
HCL's share sale is a part of the government's divestment plan this year.
