November 23, 2012 8:27 PM

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The government's 4 per cent stake sale in state-run, Hindustan Copper was over-subscribed, today. Bids were received for a total of 3.89 crore shares, worth over 603 crore rupees by the close of trading, according to data available from the stock exchanges. Actual bids may be even higher, as the exchanges were yet to complete the compilation of data of the bids received since the opening of the process at 9.15 this morning, and its close at 2.30 p.m. The government had set a floor price of 155 rupees per share–a 41 per cent discount to yesterday's closing price of Hindustan Copper on the BSE. Hindustan Copper's shares today closed at 213 rupees, down 20 per cent from its last close. Stake sale in the company has kick-started the government's disinvestment plan, which is targeting to raise 30,000 crore rupees in the current fiscal

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