Hindustan Copper OFS opens for retail investors: should you bid - Steps to apply, target & more
Hindustan Copper OFS opens for retail investors after 3x subscription from non-retail buyers. Check floor price, green-shoe option, analyst view and target.
- Aug 26, 2026,
- Updated Aug 26, 2026 9:28 AM IST
HindCopper OFS opens for retail investors: The government of India has decided to exercise the oversubscription option in the offer-for-sale (OFS) of Hindustan Copper Ltd, as it received strong demand from non-retail investors on Tuesday, August 25, with the issue subscribed more than three times. The issue will open for retail investors on Wednesday, August 26.
According to exchange data, the OFS received bids for 8.91 crore shares against 2.9 crore shares on offer, implying subscription of more than three times. The shares were offered at a floor price of Rs 514 apiece. At an indicative price of Rs 520.35 per share, the bids are valued at over Rs 4,600 crore. To recall, shares of Hindustan Copper settled at Rs 533.20, falling over 7 per cent on Tuesday.
Following the strong response, the government will exercise the green-shoe option. The government had offered to divest 3 per cent equity in Hindustan Copper, with an option to sell an additional 3 per cent. The OFS opened for non-retail investors on August 25. 10 per cent of the issue has been reserved for retail investors, while 25,000 shares have been reserved for eligible employees.
Should retail investors apply in Hindustan Copper OFS? The stock is trading at rich valuations, trailing 30 times EV/EBITDA and trailing P/E multiple of 42 times and not cheap in absolute terms. But recent robust earnings momentum, near-term debt-free balance sheet, and multi-year growth visibility on capacity expansions will lead to a long-run rally, said Netra Deshpande, Research Analyst at Mirae Asset Sharekhan.
"In the long run, the stock price will go upwards owing to strong demand for copper from data centres, power grids and transformers. Thus, one should subscribe to this OFS on a long-term basis, although we may see some short-lived corrections post-OFS," she added
Hindustan Copper OFS: How retail investors can apply
- After opening your demat account, navigate to the bids, OFS or corporate action section.
- Select Hindustan Copper there and check the floor price, bid quantity and other details.
- Enter the quantity and bid price. Investors can bid at the floor price or higher.
- One should note that an OFS does not have a lot of size. One can apply for as little as one share.
- One should note that a bid below the floor price will be rejected.
- Ensure that sufficient funds are available in the bank account.
- The amount accepted for accepted bids will be blocked until the allotment is completed.
Hindustan Copper shares target prices The upswing in prices has more to do with trade dislocations and demand tug-of-war between the USA and China. Since mid of May-26, global copper traders have been consistently withdrawing copper inventories from South Korea, Taiwan and Singapore LME warehouses, which led to drawdown of 47 per cent of inventory, providing support to global prices, said Anand Rathi in its recent report.
We have kept FY27/28e MIC estimates unchanged at 35,429/42,751 tonne versus the management’s guidance of 32,000 tonnes in FY27. We have revised FY27 metal estimate by 1.6 per cent and forex by 0.4 per cent/1.4 per cent in FY27/28e, which has led to improvement. Driven by strong operational visibility and macro tailwinds, we maintain a 'buy' with a target price of Rs 715," it said.
Hindustan Copper Q1 results Hindustan Copper is India's only listed pure-play copper company and has access to around 45 per cent of India copper ore reserves and resources. The company reported a 162.47 per cent jump in the net profit on a year-on-year (YoY) basis to Rs 352.37 crore, while its revenue surged 81.36 per cent YoY to Rs 936.50 crore. Its operating EBITDA soared 168.20 per cent YoY to Rs 457.87 crore.
The government currently has a 66.14 per cent equity holding in Hindustan Copper. As a state-owned copper producer governed by the Ministry of Mines, the company has drawn investor attention amid rising focus on copper’s strategic role across power grids, clean energy, electric mobility, data centres and industrial activity.
Among other key shareholders, LIC of India owns 2.83 per cent stake, while FPIs own 5.96 per cent stake in Hindustan Copper as of June 30, 2026. The company had more than 12.78 lakh retail investors, who held 17.80 per cent stake in the company, while more than 175 HNI investors held 1.98 per cent stake in the company.
The government’s stake sale in Hindustan Copper comes under its wider disinvestment plan. The government has mopped up Rs 52,716 crore via PSU disinvestment in the current fiscal year so far, through OFS in eight PSUs and remittances from SUUTI. The budget has set a target of Rs 80,000 crore to be raised from disinvestment and asset monetisation for FY27.
HindCopper OFS opens for retail investors: The government of India has decided to exercise the oversubscription option in the offer-for-sale (OFS) of Hindustan Copper Ltd, as it received strong demand from non-retail investors on Tuesday, August 25, with the issue subscribed more than three times. The issue will open for retail investors on Wednesday, August 26.
According to exchange data, the OFS received bids for 8.91 crore shares against 2.9 crore shares on offer, implying subscription of more than three times. The shares were offered at a floor price of Rs 514 apiece. At an indicative price of Rs 520.35 per share, the bids are valued at over Rs 4,600 crore. To recall, shares of Hindustan Copper settled at Rs 533.20, falling over 7 per cent on Tuesday.
Following the strong response, the government will exercise the green-shoe option. The government had offered to divest 3 per cent equity in Hindustan Copper, with an option to sell an additional 3 per cent. The OFS opened for non-retail investors on August 25. 10 per cent of the issue has been reserved for retail investors, while 25,000 shares have been reserved for eligible employees.
Should retail investors apply in Hindustan Copper OFS? The stock is trading at rich valuations, trailing 30 times EV/EBITDA and trailing P/E multiple of 42 times and not cheap in absolute terms. But recent robust earnings momentum, near-term debt-free balance sheet, and multi-year growth visibility on capacity expansions will lead to a long-run rally, said Netra Deshpande, Research Analyst at Mirae Asset Sharekhan.
"In the long run, the stock price will go upwards owing to strong demand for copper from data centres, power grids and transformers. Thus, one should subscribe to this OFS on a long-term basis, although we may see some short-lived corrections post-OFS," she added
Hindustan Copper OFS: How retail investors can apply
- After opening your demat account, navigate to the bids, OFS or corporate action section.
- Select Hindustan Copper there and check the floor price, bid quantity and other details.
- Enter the quantity and bid price. Investors can bid at the floor price or higher.
- One should note that an OFS does not have a lot of size. One can apply for as little as one share.
- One should note that a bid below the floor price will be rejected.
- Ensure that sufficient funds are available in the bank account.
- The amount accepted for accepted bids will be blocked until the allotment is completed.
Hindustan Copper shares target prices The upswing in prices has more to do with trade dislocations and demand tug-of-war between the USA and China. Since mid of May-26, global copper traders have been consistently withdrawing copper inventories from South Korea, Taiwan and Singapore LME warehouses, which led to drawdown of 47 per cent of inventory, providing support to global prices, said Anand Rathi in its recent report.
We have kept FY27/28e MIC estimates unchanged at 35,429/42,751 tonne versus the management’s guidance of 32,000 tonnes in FY27. We have revised FY27 metal estimate by 1.6 per cent and forex by 0.4 per cent/1.4 per cent in FY27/28e, which has led to improvement. Driven by strong operational visibility and macro tailwinds, we maintain a 'buy' with a target price of Rs 715," it said.
Hindustan Copper Q1 results Hindustan Copper is India's only listed pure-play copper company and has access to around 45 per cent of India copper ore reserves and resources. The company reported a 162.47 per cent jump in the net profit on a year-on-year (YoY) basis to Rs 352.37 crore, while its revenue surged 81.36 per cent YoY to Rs 936.50 crore. Its operating EBITDA soared 168.20 per cent YoY to Rs 457.87 crore.
The government currently has a 66.14 per cent equity holding in Hindustan Copper. As a state-owned copper producer governed by the Ministry of Mines, the company has drawn investor attention amid rising focus on copper’s strategic role across power grids, clean energy, electric mobility, data centres and industrial activity.
Among other key shareholders, LIC of India owns 2.83 per cent stake, while FPIs own 5.96 per cent stake in Hindustan Copper as of June 30, 2026. The company had more than 12.78 lakh retail investors, who held 17.80 per cent stake in the company, while more than 175 HNI investors held 1.98 per cent stake in the company.
The government’s stake sale in Hindustan Copper comes under its wider disinvestment plan. The government has mopped up Rs 52,716 crore via PSU disinvestment in the current fiscal year so far, through OFS in eight PSUs and remittances from SUUTI. The budget has set a target of Rs 80,000 crore to be raised from disinvestment and asset monetisation for FY27.