The Centre is planning to divest up to 15% stake in the Bengaluru-based public sector undertaking Hindustan Aeronautics Ltd (HAL) to mop-up an estimated Rs 5,021 crore.
In a regulatory filing with the Bombay Stock Exchange (BSE), the government offered 3.34 crore equity shares of face value of Rs 10 each, representing 10% of the total paid-up equity share capital of the company, as the base offer.
It will also offer 1.67 crore shares of HAL, comprising 5% of the company’s share capital, as an oversubscription option under the offer.
Advised by IDBI Capital Markets & Securities Limited, SBI Caps, and YES Securities on the transaction, the floor price of the offer has been set at Rs 1,001 per share — 15% below the previous close.
