India is planning to sell up to 3.5% 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 $3 billion cash acquisition of two Vedanta Group subsidiaries.
