
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
Union Finance Minister Nirmala Sitharaman's daughter has tied the knot. Union minister's daughter
Nayanthara is in the news these days for her documentary Nayanthara Beyond the Fairytale. She is
Following two consecutive defeats to India in the 2025 Asia Cup in Dubai, Pakistan's former Prime
Two people lost their lives in a car accident in Pune, Maharashtra. The darkest aspect of the acc
In the year 1971, the then Prime Minister of India, Indira Gandhi declared war on the common peop
The match between India and Pakistan in the semi-finals of the World Championship of Legends (WCL
Prime Minister Narendra Modi addressed the Indian diaspora in New York, USA. While addressin
Actress Swara Bhaskar recently posted a post on social media linking 'Chhava' and the stampede in
Whoever heard the act of Sagar Sharma, a native of Peerjadigarhi locality of Purva, who broke ins
Three schools in Delhi have received bomb threats. This threat has been sent to the schools by ma