Mumbai: The Central government has decided to divest an additional 15% stake in Hindustan Aeronautics Ltd (HAL) to garner around ₹5,020 crore to mobilise resources to ease the COVID-19 related pressure on finances.
In a stock exchange filing on Wednesday, India’s top aeronautics and defence company said the government will sell 33.43 million shares totalling a 10% stake to institutional and retail investors on August 26 and 27, according to a ‘livemint’ report.
In case of oversubscription, a further 5% stake or 16.71 million shares would be offered. The floor price for the share sale has been set at ₹1,001 per share, a 15% discount to the closing price of ₹1,177.75 a piece on Wednesday.
The government holds 89.97% stake in HAL. It sold 10% stake through an initial public offering (IPO) in 2018, raising around ₹4,229 crore.
Stay ahead with Odisha Bytes Breaking News - your ultimate source for the fastest, most… Read More
Bhubaneswar: The Odisha Police Recruitment Board (OPRB) has postponed the upcoming examination for Group B… Read More
Bhubaneswar: The Supreme Court Collegium has recommended the appointment of Justice Harish Tandon as the… Read More
Bhubaneswar: Two senior IAS officers of Odisha cadre – Ranjana Chopra and Santosh Kumar Sarangi… Read More
Bhubaneswar: Skygazers are in for a treat as the spectacular total lunar eclipse, also known… Read More
Lucknow: An ‘active terrorist’ of Babbar Khalsa International (BKI), who allegedly has ties with Pakistan’s… Read More
This website uses cookies.
