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Hindustan Copper Offer for Sale (OFS) - At Rs 155 floor (CMP 230)

Published on Thursday, November 22, 2012 by Chittorgarh.com Team

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Government of India offers Hindustan Copper Ltd (HCL) share at big discount of Rs 155 floor Price through ‘Offer for Sale of Shares through Stock Exchanges’, the first disinvestment in this fiscal.

One can bid for a stake in Hindustan Copper at Rs 155 a share in the auction that will happen on Friday on the BSE and NSE.

Individual investors can place their bids through their broker. One person can bid a minimum of one share. The sale will start tomorrow at 9-15 a.m. and close on the same day at 3-30 p.m.

ICICIDirect customers can place order online though Trade & Invest -> Equity -> OFS. Orders placed can be modified or cancelled through ‘Order Book’.

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23 Comments

23. praba karan  Dec 23, 2012 13:07 I Like It. | Report Abuse Reply
@Sandeep

Now the price is below 140.

Would suggest me to buy now?
What is your 1 year target?

22. Sandeep  Nov 27, 2012 14:47 I Like It. | Report Abuse Reply
@pkuppusamy

I will personally hold for some time and if it goes below 140, I may add some more.

The price should settle down in next one or two weeks.

21. pkuppusamy  Nov 27, 2012 14:28 I Like It. | Report Abuse Reply
Thanks @Sandeep,

I have placed the sell order at buying price..
But it is below 155..

Would you suggest to average out if it fall further? or book loss?
20. Sandeep  Nov 27, 2012 14:12 I Like It. | Report Abuse Reply
@NIKU,

Even I applied some share at higher price as I thought the bidding may close at much higher price. It was a 100% miscalculation :(

My avg price now is 165.

Sandeep
19. Sandeep  Nov 27, 2012 14:10 I Like It. | Report Abuse Reply
@pkuppusamy

You can sell the share like in other share in your demat account as long as you see the shares in there.

I bought 1000 shares and will wait for some time and let the script settle down. Shortselling is killing this script and I may buy some more if it falls further to reduce my cost.
18. NIKU  Nov 27, 2012 13:23 I Like It. | Report Abuse Reply
why u applied above the floor price yaar
17. pkuppusamy  Nov 27, 2012 12:46 I Like It. | Report Abuse Reply
I applied for price 156, just 1 rupee above the floor price.
Yesterday money deducted from my account(ICICIDirect) and I could see in my demat account.

Should I hold it for longer time?

Is it possible to sell it today? How to sell it on ICICIDirect?
Any suggestions?

Thanks,
pkuppusamy
16. Sandeep  Nov 27, 2012 10:40 I Like It. | Report Abuse Reply
Received in my demat account this morning...what a perfect timing :(

Now I may have to wait for few weeks before I exit from this.

15. NIKU  Nov 27, 2012 10:06 I Like It. | Report Abuse Reply
ICICI DIRECT CLIENT CAN SELL THERE HOLDING OF HINDUSTAN COPPER
14. NIKU  Nov 26, 2012 08:32 I Like It. | Report Abuse Reply
DELIVERY ON 28TH DEAR YOU CAN SELL ONLY ON 29TH THURSDAY.
13. Sandeep  Nov 26, 2012 08:13 I Like It. | Report Abuse Reply
@kriahna,

The trade is executed but the shares are not yet credited in my demat account. I am expecting the delivery of the shares by tomorrow (T+2 days).

You can check your trade book for executed orders. The money got deducted from my account this morning.

Sandeep
12. krishna  Nov 25, 2012 18:53 I Like It. | Report Abuse Reply
Mr. Sandeep,

WHat you do you mean you have already got it? Is it already reflecting in your demat account
11. krishna  Nov 25, 2012 18:52 I Like It. | Report Abuse Reply
How to know how much of the shares have been alloted.
10. Sandeep  Nov 24, 2012 22:00 I Like It. | Report Abuse Reply
@rakesh agarwal

1. I don''t see any reason it will fall below 155. It may go down for few minutes but will not stay there. Nothing has changed about the company except 4-5% more share in market. 50% discount is too much for this dilution. Don''t you think so?

2. Even if lower circuit hits till 28th and share keeps going down till Rs 109, you may not be able to sell it as there may not be any buyers in the market. But I am pretty much sure that this situation will not come as we will see a good amount of buying just below 155.

3. If people looses money in this OFS, they will not apply in any future OFS''s and govt plans to raise Rs 25K Crore will get a major setback. I am sure that govt is not in position to do that. They will try their best to keep the investor make some money and feel good so that they can sell the future OFS''s.

Best wishes for all who got the shares.
9. Sandeep  Nov 24, 2012 21:51 I Like It. | Report Abuse Reply
Hello Friends,

I applied in 2 sets, 500@155 and 500@175 and got both of them at the same price I bidded....i.e. 500@155 and 500@175

I didn''t know much about OFS until 23rd...learnt after chittorgarh.com mail and then applied.

Now what do you guys says about the selling?

Sandeep

8. NIKU  Nov 24, 2012 18:44 I Like It. | Report Abuse Reply
Dear alok
Check your order book,
Dear rakesh
how much shares you applied and what rate
7. rakesh agarwal  Nov 24, 2012 18:19 I Like It. | Report Abuse Reply
icici direct shows i will get delivery on Nov 28th and if the price fall with 3 circuit, i will reach to 109/ share so maximum loss of 46/-
6. VIJAY  Nov 24, 2012 15:30 I Like It. | Report Abuse Reply
ALOK
U GET 100 SHARES AT RS 190 THRU OFS AS U BID AT RS 190
BECAI BID 30 SHARE AT 161.1 & ICICIDIRECT CHARGE 161.1+BROKRAGE
5. alok  Nov 24, 2012 08:54 I Like It. | Report Abuse Reply
I HAD APPLIED 100 SHARES AT RS 190 THRU OFS.WILL I GET ALLOTED AT 190 OR AT THE AVERAGE RATE
4. Ganesh  Nov 23, 2012 22:05 I Like It. | Report Abuse Reply
How can we know the allotment status?
3. Pcjain  Nov 23, 2012 18:36 I Like It. | Report Abuse Reply
Each & everybody who took part in this OFS will get shares.
2. AMIT  Nov 23, 2012 17:24 I Like It. | Report Abuse Reply
GOOD RESPONSE
1. Dinesh K  Nov 23, 2012 16:27 I Like It. | Report Abuse Reply
By 4 PM:

The auction generated bids for 38.9 million shares, stock exchange data showed. The government had offered 37.01 million shares, or 4 percent of the company, but had the option to sell a further 51.71 million shares.

The bids came at a weighted average price of 156.81 rupees, stock exchange data showed, slightly above the 155 rupees floor price.