HAL Shares: Navratna Stock Price Has Fallen By 14.03% From 52-Week High

The share price of Hindustan Aeronautics Ltd(HAL), a Navratna stock has fallen by 14.03% from its 52-week high price level of Rs 2,915 per share. It is currently trading at Rs 2506.15 per share, which is down by 4.54% over previous day's closing price.

The shares tanked as the government decides to sell its stake of 1.5% and it offer for sale (OFS) floor price is offered at a discounted price of Rs 2450 per share. The news of OFS was announced through filing on exchange.

As per the filing on the stock exchange, the company has offered upto 58, 51, 782 shares of the company of face value of Rs 10 each. "We hereby notify you that the Seller proposes to sell up to 1.75% (58,51,782) equity shares of face value of Rs 10 each of the Company Base Offer Size"), on March 23, 2023 , (for nonRetail Investors only) and on March 24, 2023 (for Retail Investors and non-Retail Investors who choose to carry forward their un-allotted bids) with an option to additionally sell 1.75% (58,51,781) equity shares of the Company (the "Oversubscription Option" and in event the Oversubscription Option is exercised, the equity shares forming part of the Base Offer Size and the Oversubscription Option will represent 3.50% (11,703,563) equity shares of the Company, and will collectively, hereinafter be referred to as "Offer Shares"

In 2020, the government had sold 15 percent of its equity stake of the company at a price of Rs 1,001 per share to raise about Rs 5,000 crore via OFS. The sale price of Rs 1,001 per share was at a 15 percent discount.

In last one year however the share price of HAL has gone up by 77.8% and in three years it has grown massively by 396.37%