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Hindustan Copper to sell off 4.01% stake
July 04, 2013
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KOLKATA: State-run Hindustan Copper Limited (HCL) hit the markets on Wednesday with offers to sell off 4.01 per cent stake of the company.

“The promoter (government) proposed to sell 37,119,152 equity shares of the face value of Rs5 each aggregating approximately 4.01 per cent of the paid-up equity shares capital of the company (HCL),” according to a filing to the Bombay Stock Exchange. The government holds 94.01 per cent stake in the Kolkata-headquartered firm. The stake sale would make the firm compliant to the minimum 10 per cent public holding norm of the capital market regulator SEBI.

HCL will be the second public sector company to hit the markets in the current financial year.

Indo-Asian News Service

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