The government has decided to divest its 4% shares in Hindustan Copper on Nov 23, 2012. The government is expected to raise Rs 900 crore through this divestment thereby starting the Rs 30,000 crore disinvestment programme for the current fiscal.
Earlier, government had planned to offload 9.59% out of its 99.59% equity in Hindustan Copper. However, it has now decided to offload the copper major in two tranches, as it doesn’t want to flood the market with extra liquidity.
This will be the first stake sale in any PSU in the current fiscal year during which the government plans to raise Rs 30,000 crore by way of disinvestment.
