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
Famous Bollywood actor Salman Khan has been receiving death threats for a long time. The actor on
The Supreme Court will hear petitions against the constitutional validity of the Waqf (Amendment)
In IPL 2025, Royal Challengers Bangalore had to face defeat at home against Gujarat Titans on Wed
Cricket fans are eagerly following the second match of the Tri-Nation ‘A’ Series, whe
People are still reeling from the 7.5 magnitude earthquake that struck Japan last night. A tsunam
As told in the review of the first episode of Netflix's new show 'The Great I
IPL 2025: BCCI's tension increases due to a problem regarding an IPL match; schedule may be changed
Only three days are left in IPL 2025. On March 22, the first match will be played between KKR and
India is preparing for a major transformation in the fuel sector. In the coming months, vehicle o
Prime Minister Narendra Modi spoke over the phone on Thursday with leaders from Qatar, France, Jo
Prime Minister Narendra Modi, who is on a visit to Croatia, has taken traditional gifts from Odis
