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 police have arrested the accused who opened fire at the Gurugram house of famous YouTuber and
Boards have been put up at various places on Har Ki Pauri in Haridwar, clearly stating that entry
Once again, schools in Delhi have received bomb threats. Six private schools were threatened thro
Indian celebs continue to arrive at the 78th Cannes Film Festival. Now actress Janhvi Kapoor has
Following Pakistan's humiliating defeat in the Asia Cup 2025 final, Operation Sindoor has once ag
About five thousand people died in the war between Israel and Hamas. Meanwhile, on Tuesday there
To ensure the Prime Minister's security program is impenetrable, Police Commissioner Mohit Aggarw
Amitabh Bachchan: Amitabh's love for his son was once again evident, he said- 'Abhishek, you did it'
Amitabh Bachchan never misses a chance to praise his son and actor Abhishek Bachchan. He often sh
On September 27th, renowned Punjabi singer Rajvir Jawanda was involved in a horrific car accident
UNSC: Shock to Russia in UNSC, Russian proposal on sabotage in Nord Stream pipeline rejected
Russia demanded an international investigation into the alleged sabotage of gas pipelines from Ru
