The Finance Ministry on Thursday decided to exercise the green shoe option as the offer-for-sale of Hindustan Aeronautics Ltd (HAL) has received a good response, with the issue subscribed 4.5 times on day one.
“Offer for Sale (OFS) of Government shares in HAL got great response on day one. Issue subscribed 4.5 times of base size at a clearing price above the floor price by non-retail investors. Government has decided to exercise the green shoe option. Retail investors get chance to bid tomorrow,” DIPAM Secretary Tuhin Kanta Pandey said in a tweet.
The OFS comprised of base issue size of 1.75 per cent or 58.51 lakh shares, with an option to retain over-subscription of an equal quantum.
