Shares of state-owned Hindustan Copper will be in focus on Wednesday after the government's offer for sale (OFS) opens for retail participation later in the day. This comes just a day after it received strong demand from non-retail investors, with the issue subscribed 3.41 times on Tuesday.
According to exchange data, investors bid for 8.91 crore shares against the 2.61 crore shares on offer. The shares were offered at a floor price of Rs 514 apiece. Hindustan Copper was trading at Rs 531.40, above the OFS floor price, according to the data shared.
Also read: Hindustan Copper OFS may not be a big draw for retail investors: Analysts
The government will now exercise the greenshoe option following the strong response. The Centre initially offered to sell a 3% stake in Hindustan Copper, with an option to divest an additional 3% if the offer was oversubscribed.
The base offer comprised 2.61 crore shares. If the greenshoe option is fully exercised, the total stake sale could rise to 6% of Hindustan Copper's equity.
Under the offer structure, 10% of the issue is reserved for retail investors, while an additional 25,000 shares are set aside for eligible employees. The OFS is part of the government's disinvestment programme. Hindustan Copper is a state-run copper producer under the Ministry of Mines.
The company reported profit before tax of Rs 472 crore for the quarter ended June 2026, an increase of around 163% from the same period a year earlier. Profit after tax also rose around 163% to Rs 353 crore. Revenue from operations increased 81% to Rs 936 crore from Rs 516 crore in the year-ago period.
Hindustan Copper is also pursuing mine expansion and has stepped up monitoring of its expansion projects. The company is targeting ore production capacity of 12.2 million tonnes per annum by 2030. It is also progressing with the reopening of mines in Jharkhand, acquiring new mines in Chhattisgarh and Madhya Pradesh, and exploring mines in Chile.
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Copper demand has emerged as a long-term theme linked to electric vehicles, renewable energy, power infrastructure and data centres. The shift towards renewable energy and electric mobility, along with AI-led infrastructure and decarbonisation policies, is expected to support copper demand in the coming years.
