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HAL Share Price: Hindustan Aeronautics Limited’s offer for sale in the defense sector has been subscribed 4.51 times. The OFS was open to non-retail investors on March 23. 52,66,603 shares were available for application for them. And applications have come for a total of 2,37,58,701 shares. As per the data available on BSE, the category of non-retail investors has received better response and the offer has been subscribed 4.51 times.
However, the sale of shares of Hindustan Aeronautics Limited by the government through offer for sale did not go down well with the investors. Due to the low floor price, the stock of Hindustan Aeronautics Limited fell by 5 percent on Thursday. The stock had closed at Rs 2625 on Wednesday, which fell to Rs 2475 on Thursday. But at the close of the market, the stock closed at Rs 2496 with a fall of 4.89 per cent. The government has fixed the floor price of HAL’s offer for sale at Rs 2,450 per share.
On Friday, March 24, retail investors and non-retail investors who want to carry forward their unallotted bids will be able to apply. 1.75 per cent stake or 58,51,781 shares will be sold to them in the offer for sale. 10% of the offer size has been reserved for retail investors. The stock exchanges will decide the number of shares to be allotted to the retail category based on the floor price. No discount is being given to retail investors in LAL’s offer or sale. A reserve of 5% of the offer size has been kept for the employees. Employees can apply for shares up to Rs 2 lakh.
In one year, the stock of Hindustan Aeronautics Limited has given multibagger returns to the investors. The stock had touched a high of Rs 2914 on March 13. Whereas a year ago on March 28, 2022, the stock was trading at Rs.1381. The stock has gained 85 per cent in one year, 153 per cent in two years and 360 per cent in three years.
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