Government to sell up to 15% stake in HAL via OFS on August 27-28

Mumbai: The government will sell up to 15 per cent stake in state-run aerospace and defence company Hindustan Aeronautics (HAL) through an offer for sale (OFS), at a floor price of Rs 1,001 per share. The offer could fetch the exchequer around Rs 5,020 crore.

Through the OFS, the government proposes to sell 3,34,38,750 equity shares, constituting 10 per cent paid-up share capital of the company, with an option to sell an additional 5 per cent stake or 1,67,19,375 equity shares (oversubscription option), HAL said in a regulatory filing.