Hindustan Aeronautics Ltd (HAL) shares tanked 5.5% to Rs 2480.05 on Thursday after the Central Government announced the disinvestment of up to 3.5% stake in Hindustan Aeronautics (HAL) to raise Rs 2,867 crore. The floor price has been set at Rs 2450, a discount of just over 1% from the current price. The offer for sale (OFS) issue will be open from Thursday-Friday. The OFS constitutes a base offer size of 1.75% (5.85 million) of equity shares of the face value of Rs 10 each of the company with an option to additionally sell 1.75%, taking the total offer size to 3.5%, according to the company’s notice to the BSE. Currently, the government owns 75.15% of Hindustan Aeronautics Ltd.
Only non-retail investors are permitted to place their bids on Thursday. Retail investors as well as non-retail investors, who choose to carry forward their unallotted bids, could place their bids on Friday. HAL’s net profit rose 57% on year to Rs 5,087 crore in FY22. It reported a 23% on-year increase in net profit at Rs 1,154 crore in the December quarter of FY23.
HAL shares have fallen 8.5% in the past one week while they have risen over 77% in the last one year. The stock touched a 52-week high of Rs 2,915 on 13 March 2023 and a 52-week low of Rs 1,381.90 on 28 March 2022. Today the shares touched an intraday low of Rs 2475 and a high of Rs 2497. At the current price of Rs 2492.60, the company’s market capitalisation stands at Rs 83,349.43 crore. Meanwhile, benchmark equity indices NSE Nifty and BSE
