HAL Stake Sale: The government will sell up to a 3.5 percent stake in Hindustan Aeronautics Limited (HAL) at a floor price of Rs 2,450 per share. The two-day offer for sale (OFS) will open for institutional investors on Thursday and for retail buyers on Friday.
The OFS comprises a base issue of 1.75 percent or 58.51 lakh shares. This also includes the option of retaining the over-subscription.
The government will sell a stake in HAL
HAL has said in a regulatory filing that the oversubscription option is being exercised in this sale. The Equity Shares forming part of the Base Offer Size and oversubscription option will represent 3.50 percent (1,17,03,563) Equity Shares of the Company.
what is the deal price?
The sale of a 3.5 percent stake at the floor price of Rs 2,450 per share will fetch the exchequer around Rs 2,800 crore. The floor price is at a discount of approximately 6.7 percent to the closing share price of HAL on BSE. Shares of HAL on Wednesday closed at Rs 2,625.20, down 0.93 percent, on the BSE.
The government proposes to sell 1.75% of its equity shares of the face value of Rs 10 each to non-retail investors. Apart from this, the option of selling 1.75% more stake is also open in case the issue is oversubscribed, that is, a total of 3.5% stake can be sold in this way.
HAL is a defense company
The government currently holds a 75.15 percent stake in HAL, a Central Public Sector Enterprise (CPSE) under the Ministry of Defence. The proceeds from the HAL OFS will be added to the disinvestment fund of the government for the current financial year.
The government has so far raised Rs 31,106.64 crore through disinvestment and share buyback in CPSEs. The government had last monthly revised its estimate of disinvestment revenue for the current fiscal at Rs 50,000 crore against the budgeted target of Rs 65,000 crore.
Also Read: Signature Bank : After SVB, now Signature Bank is also closed, and FDIC takes control
Team India, which recently faced defeat against Australia in the final of the ODI World Cup, will
Arvind Kejriwal: Kejriwal will not resign from the post of Chief Minister, said big thing about BJP
Delhi Chief Minister Arvind Kejriwal asked why he had not tendered his resignation while in jail.
Popular OTT platform Prime Video today announced the world premiere of the much-awaited film Bawa
Punjab Kings defeated Kolkata Knight Riders by 16 runs in Mullanpur on Tuesday in IPL 2025. In th
A local Rohingya NGO has filed a PIL in the Supreme Court demanding free education for Rohingya c
Amitabh-Ravi: Ravi Kishan praised Amitabh Bachchan for 'Kalki 2898 AD', Big B greeted him with a hug
Amitabh Bachchan is currently enjoying the success of his recently released film 'Kalki 2898 AD'.
The White House has rejected a claim made between India and Canada. It was claimed that America h
Prime Minister Narendra Modi addressed a huge public meeting in Nanded, Maharashtra. Du
As the release date of the film 'Pushpa 2: The Rule' is getting closer, new updates related
The way father of the nation, Mahatma Gandhi, is respected all over the world, in the same way, N
