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
The Bangladesh Cricket Board (BCB) has refuted reports of an ultimatum from the ICC. Recent repor
India vs England Hockey World Cup: Team India Eyes Historic Win After 32 Years, Match at 6:30 PM
India vs England Hockey World Cup 2026: The Indian men's hockey team will face England in a cruci
Lionel Messi Retirement: Argentina Calls Up Messi for Farewell Match Against Benin on October 6
The Argentine Football Association (AFA) has included Messi in the squad for a farewell friendly
Only 14 contestants remain in the controversial reality show Bigg Boss Season 19. Zeeshan Quadri
India has faced defeat in the last match of the three-match ODI series against Australia. In the
The Malaysian Prime Minister indicated that his government can consider India's request for the e
Diwali is celebrated on Kartik Amavasya (Kartik Amavasya 2025). According to religious belief, Di
Riya Singha, who has won the title of Miss Universe India 2024, has got another big opportunity.
Women of Delhi will not have to do much for Rs 2500 every month. Delhi's nominated Chief Minister
Big B took a dig at 'biased commentary' during the India-Australia cricket match, and said this
India had won the first Test of the five-match series being played in Perth by 295 runs over Aust
