Last Update: March 22, 2023, 7:30 PM IST
According to Refinitiv Eikon, the government holds 75.15% stake in HAL.
So far, the government has raised 311.1 billion rupees by selling its shares in state-run firms.
India plans to sell a 3.5% stake in aerospace and defense company Hindustan Aeronautics Ltd this week, which could fetch the government as much as 28.67 billion rupees ($347.16 million), an exchange filing showed on Wednesday.
So far, the government has raised Rs 311.1 billion by selling its shares in government companies against its target of Rs 500 billion for the fiscal year ending March 31.
The Indian government is missing out on meeting its disinvestment target for 2022/23 as it plans to hold off on a partial sale of its stake in Hindustan Zinc (HZL) until the company acquires approximately half of the two Vedanta Group subsidiaries. does not close the $3 billion cash acquisition.
The floor price for the sale of HAL’s stake is Rs 2,450 per share, at a discount of 6.7% to Wednesday’s close.
According to Refinitiv Eikon, the government holds 75.15% stake in HAL.
The government plans to sell 1.75% stake on March 23-24, and has an option to sell another 1.75% if needed.
Disinvestment in state-owned firms is a major revenue-raising measure that helps the government spend on building infrastructure.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)