By BullScreen Editorial Team 
Hindustan Copper shares recovered on Wednesday as the government’s Offer for Sale (OFS) opened for retail investors, following a sharp decline in the previous session. The stock was trading at ₹543.55 on the NSE at 9:30 am, up ₹10.90, or 2.05%.
The retail portion opened a day after strong demand from non-retail investors. The institutional portion was subscribed more than three times, prompting the government to exercise the full 3% greenshoe option. This takes the potential stake sale to 6%, compared with the initial 3% offer.
The OFS has a floor price of ₹514 per share. If the entire 6% stake is sold, the government could raise nearly ₹2,982 crore. At least 10% of the offer is reserved for retail investors, while 25,000 additional shares have been earmarked for eligible employees. Bidding is open from 9:15 am to 3:30 pm through separate OFS windows on the NSE and BSE, with settlement scheduled for August 27.
However, the headline discount may be less attractive than it appears. Hindustan Copper fell 7.45% to ₹531.40 on Tuesday, meaning much of the 10.5% discount to its August 24 close of ₹574.15 may have already been absorbed by the market.
Hindustan Copper is India’s only listed pure-play copper company and has access to around 45% of the country’s copper ore reserves and resources, according to Anand Rathi. The stock has still gained more than 10% over the past month.
For investors, the key question is whether the Hindustan Copper OFS offers enough value after Tuesday’s correction, rather than simply focusing on the stated discount.