The government plans to sell up to 3.5 percent of its stake in aerospace and defence company Hindustan Aeronautics (HAL) through an offer for sale (OFS) to raise over Rs 2,867 crore this fiscal, according to an exchange filing on Wednesday. It owns a 75 percent stake in HAL.
The 3.5 per cent stake sale comprised 1.75 per cent as the base offer and 1.75 per cent as an additional option. The offer will open on March 23 and will continue till March 24th.
According to the regulatory filing, the government has proposed to sell 1.75 percent of its equity shares of face value of Rs 10 each on March 23 and March 24 for non-retail investors and an additional 1.75 percent stake “in event the oversubscription option is exercised.”
