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
17 days have been completed in the ongoing farmers' agitation on the Shambhu and Khanauri borders
Maharashtra Navnirman Sena (MNS) chief Raj Thackeray on Friday warned Maharashtra Chief Minister
Shah Rukh Khan Gets Y+ Security: The year 2023 has been very good for Bollywood's King Shah Rukh
The schedule for the ICC Men's T20 World Cup warm-up matches has been announced. The tournament o
There is anger across the country even today over the horrific incident that happened with the fe
Central Board of Secondary Education (CBSE) has declared the result of class 12th. 87.98 percent
The journey of passengers traveling between Delhi and Meerut is going to be easy. Prime Minister
Today, from July 1, 2025, many big changes are being implemented in the country, which will direc
LSG vs MI: Hardik Pandya fined Rs 24 lakh, Mumbai Indians players also got strict punishment
Mumbai Indians captain Hardik Pandya was fined Rs 24 lakh for violating the IPL code of conduct.
India's young T20 star opener Abhishek Sharma praised Gautam Gambhir after the hosts defeated Eng
