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
After facing defeat in Operation Sindoor, Pakistan Prime Minister Shehbaz Sharif on Monday expres
The fact that Prime Minister Narendra Modi was unable to deliver his speech during the debate on
A government employee got bail in a rape case due to a live-in relationship agreement. The seven
Elon Musk has announced that the first test of implanting a chip in the human brain has been succ
By declaring MLA Mohan Singh Bisht as the candidate from Mustafabad, BJP has been successful in r
Discussions are in full swing regarding who will become the new mayor of the Mumbai Municipal Cor
Xbox to Cut 3,200 Jobs: CEO Admits Business Is 'Not Healthy', Announces Biggest Overhaul Yet
Microsoft has announced a major restructuring of its gaming division, Xbox, with approximately 3,
The five-match T20 series between India and England will start today. The first match will be pla
Mumbai Police has arrested Bhavesh Bhide, director of advertising agency Ego Media Private Limite
Voting is being held at all polling stations for Delhi Vidhan Sabha Chunav 2025 from the schedule
