India’s government is selling about a 6% stake in Hindustan Copper Ltd., capitalizing on strong domestic liquidity and record global prices of the industrial metal as it seeks to meet its annual divestment target. The base offering for a 3% holding was subscribed more than three times on Tuesday, driven by strong demand from institutional investors. The response prompted the government to exercise the option to sell an additional 3%.

This move reflects the government’s strategy to leverage favorable market conditions in the copper sector, where prices have surged to record highs amid global supply constraints and rising demand from green energy and infrastructure projects. Hindustan Copper, a state-owned enterprise, remains a key player in India’s domestic copper production, and the stake sale is part of a broader disinvestment program aimed at reducing fiscal deficits and unlocking value from public sector assets. The transaction underscores investor confidence in the metal’s long-term outlook, even as the government balances revenue generation with strategic retained ownership in critical industries.