Hindustan Copper shares fall 3%, multibagger stock drops 6% in 3 days as OFS concludes. What lies ahead?

Hindustan Copper shares fell to Rs 541.20 apiece on Thursday. The company on Monday had announced that the government plans to sell a 3% equity stake in the company as part of the base offer, with an additional 3% available as a green shoe option. The floor price was fixed at Rs 514 apiece, taking the total OFS size to nearly Rs 2,982 crore.

The OFS opened for non-retail investors on August 25, and for retail investors on August 26. The issue got oversubscribed on both days, marking the government’s another successful stake sale in a PSU after the recent offers for sale in LIC, Coal India, NHPC, NLC India and others.

Also read | Government mobilises about Rs 3,000 crore from Hindustan Copper OFS

BSE, NSE slap fines on Hindustan Copper

Hindustan Copper announced on Wednesday that stock exchanges BSE and National Stock Exchange (NSE) each imposed a fine of Rs 14.43 lakh on the company for not complying with requirements related to board composition and committee constitution.

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The company highlighted that the power of appointment of directors on its board is vested with the President of India, acting through the Ministry of Mines. “The company has written to the Ministry of Mines, Government of India for appointment of the required number of directors on the board of HCL and the matter is under consideration,” it said, adding that it will seek waiver of fines from both BSE and NSE after the appointment of the required number of directors.

What’s ahead for Hindustan Copper share price?

Hindustan Copper shares have overall fallen over 3% in a week, but gained more than 12% in a month and 4% in 2026 so far. The multibagger stock has delivered 134% return over one year. In the longer term, the stock has jumped around 274% in three years and 368% in five years.While Vaqarjaved Khan, Senior Fundamental Analyst at Angel One, advised investors not to chase the OFS just going by the 10% discount on the opening day, he has no quarrel on the business. Hindustan Copper’s Q1 profit soared 163% YoY to Rs 353 crore, with margins near 54% and Rs 7,189 crore going into taking capacity to 12.2 MTPA by FY30. But that margin move is copper doing the work, not the mine, Khan noted. “Bid if you want to own copper for three years. Don’t bid for a two-day gain that may not exist,” he concluded.

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