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
'Even Trump's tariff attack cannot stop India's speed', an American agency gives a surprising reason
US President Donald Trump has imposed heavy tariffs on Indian imports. After this, Indian exporte
Nicholas Pooran performed brilliantly with the bat at the Narendra Modi Stadium in Ahmedabad, wit
Voting for the 288-member Maharashtra Assembly is to be held on November 20. As the date of the e
The final episode of the series 'Stranger Things' Season 5 has been streamed on Netflix. Fans wer
Sunrisers Hyderabad needed nine runs in the last over. The ball was in the hands of Man of the Ma
World Cup 2023: Afghanistan captain especially thanked Indian fans after defeating Sri Lanka
Afghanistan captain Hashmatullah Shahidi on Monday thanked the Indian fans after defeating Sri La
Recently, former US President Donald Trump was shot. After this, Trump has gone to Milwaukee to a
The final results of the Union Public Service Commission (UPSC) Civil Services Examination 2025 h
After Sushma Swaraj, Sheila Dixit, and Atishi, Delhi can once again get a woman chief minister. B
Transformers Rise Of The Beasts Review: The flight of imagination in Hollywood cinema has attaine
