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
Bollywood actress Anushka Sharma and cricketer Virat Kohli are said to be the cutest couple. He i
The very sad news is coming from the Bollywood world. Veteran Hindi cinema director Partho Ghosh,
The Election Commission will hold a press conference on Monday, a day before the counting of Lok
The controversy over giving grace marks in the medical admission exam NEET-UG (National Eligibili
Iran has retaliated after Israel attacked nuclear plants. Iran's Supreme Leader Ayatollah Ali Kha
Indian-made trains may soon run in many Gulf countries including Saudi Arabia and the United Arab
In the 30th match of IPL 2025, CSK team defeated Lucknow by 5 wickets and achieved their second v
Ranbir Kapoor: Ranbir Kapoor has not been summoned as an accused, know why ED sent the summons
Bollywood actor Ranbir Kapoor is constantly in the headlines these days. Recently news came out t
Bhool Bhulaiyaa 3 is all set to rock the theatres this Diwali. The film's star cast is busy promo
All the central security agencies and the security units of the Delhi Police are working day and