BL reported that Hindustan Copper Limited has shelved plans to raise capital by fresh issue of equity shares in a follow on public offer.

A top disinvestment department official said that although the fresh equity issuances have been dropped, the proposed divestment transactions are very much on the table and could fructify during this fiscal if the market conditions improved.

The Cabinet Committee on Economic Affairs had last year separately given its nod for disinvestment of government shareholding of 10% in Hindustan Copper. The divestments was to be put through along with the fresh issue of capital to be issued by HCL.

(Sourced from Business Line)