New Delhi : The base price for the government’s 4.01% stake sale in Hindustan Copper today has been fixed at Rs 70 apiece which will garner a minimum of Rs 260 crore to the exchequer, reports PTI.

The base price is at a discount of 3.65% to the current market price of Rs 72.65 a share. HCL shares slumped 6.62% to settle at Rs 72.65 on BSE on Tuesday.

HCL is the second PSU to hit the markets in the current fiscal. Earlier this month, the government had raised Rs 568 crore through divesting 9.33% stake in MMTC.  The centre plans to raise Rs 40,000 crore through disinvestment in 2013-14.

(To view our epaper please click here. For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal