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
Weather Update: Weather became pleasant due to heavy rain in Delhi-NCR, temperature dropped
Before the departure of the monsoon in Delhi-NCR, rain is making the weather pleasant. Heavy rain
Tanya Mittal, who is seen in the reality show Bigg Boss Season 19, is known for flaunting her wea
Delhiites are facing breathing problems. The AQI of many areas of the capital has been recorded a
Terrorists have attempted to infiltrate the Line of Control under District Kupwara in North Kashm
Icy winds blowing from the high peaks of the Himalayas have gripped the entire North India in a s
Parents will now be able to keep an eye on teenagers using Instagram in India. Meta, the company
A major political controversy has erupted after several municipal bodies in the country ordered m
The song ‘Sarke Chunar Teri Sarke’ from Sanjay Dutt and Shilpa Shetty’s film KD
IPL 2026: Chennai Super Kings' Seventh Consecutive Defeat; Ruturaj Gaikwad Holds Himself Responsible
Chennai Super Kings’ fortunes show no signs of turning around. Under the captaincy of Rutur
Government employees will now be able to participate in the activities of Rashtriya Swayamsevak S
