India is planning to sell up to 3.5 per cent stake in aerospace and defence company Hindustan Aeronautics Ltd this week in a deal that could fetch the government Rs 2,867 crore ($347.16 million), an exchange filing showed on Wednesday.
So far, the government has mopped up Rs 31,110 crore by selling its shares in state-run firms as against its target of Rs 50,000 crore for the financial year ending March 31.
The Indian government stares at missing its divestment target for 2022/23 as it plans to put on hold the part sale of its stake in Hindustan Zinc (HZL) unless the company calls off the nearly Rs 24,776 crore cash acquisition of two Vedanta Group subsidiaries.
