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
On the India Block March from Parliament to the Election Commission, the Delhi Police has said th
South Korean President Lee Jae-myung is currently on a visit to India. On Monday, he was accorded
Petrol Price Hike: It has begun in India as well—premium petrol prices rise by over ₹2.
Petrol and diesel prices have started rising in India. According to reports from oil companies, t
40 schools, including many big schools in the capital Delhi, have received bomb threats. DPS RK P
BJP attacks Rahul Gandhi over Bihar voter list release, Congress also questions final list
The Bharatiya Janata Party (BJP) launched a scathing attack on the Congress and Rahul Gandhi afte
Today, Saturday, February 7th, drivers associated with Ola, Uber, and Rapido across the country h
Pakistan Cricket Board has postponed the announcement of the squad for the upcomin
The war of words between BJP and Congress, which began after the death of former Prime Minister D
In the IPL 2026 season, the decision by Lucknow Super Giants (LSG) captain Rishabh Pant to open t
Lok Sabha Election 2024: Notification has been issued for the first phase of Lok Sabha elections.
