The two-day offer for sale of OFS by Hindustan Aeronautics HAL will begin on Thursday. Shares of Mishra Dhatu Nigam Midhani will turn ex-dividend today. The Boards of Power Finance Corportion PFC and Indraprastha Gas IGL will consider proposals for dividends today. Radhika Jeweltech, whose board meeting was postponed earlier today, will consider a proposal for a stock split.
The Centre would sell up to 3.5 per cent of the firm's aerospace and defence PSU. The floor price for the same has been fixed at Rs 2,450 per share, a 6.6 per cent discount from Wednesday's closing price. The stake sale is estimated to be worth Rs 2,867 crore, based on a floor price. The government has proposed selling up to 1.75 per cent or 58,51, 782 shares of the face value of Rs 10 each of the company. Retail investors and non-retail investors who choose to carry forward their un-allotted bids can participate in the HAL OFS on March 23 and retail investors and non-retail investors can participate on March 24. Approximately 10 percent of the offer size is reserved for retail investors who have received valid bids.
The shares of Midhani would turn ex-dividend today. Midhani has announced an interim dividend of Rs 1.68 per share and the record date for the same is today. The dividend will be paid on April 14.
PFC will consider a proposal relating to the declaration of fourth dividend for FY 23 today. The interim dividend will be declared at the board meeting on April 1st. The interim dividend if any is declared will begin on and from Wednesday, March 29. The record date for payment of interim dividends, as declared by the board, will be Friday, March 31, in the case of IGL.
The board of directors of the company will consider and approve a stock split today, according to Radhika Jeweltech. The board meeting was scheduled to take place on March 16 but was postponed due to some unavoidable reasons.