The government is planning to sell 15 per cent stake in Hindustan Aeronautics Ltd (HAL) through an offer for sale, which could fetch about Rs 4,000 crore to the exchequer. The government is looking to appoint up to three merchant bankers for managing the offer for sale (OFS) and has invited bids for the same by February 21. It holds 89.97 per cent stake in state-owned defence firm HAL, which was listed on the stock exchanges in March 2018.
“The government intends to divest 15 per cent paid-up equity capital of HAL out of its shareholding of 89.97 per cent through OFS method of shares by promoters,” said the request for proposal (RfP) floated by the finance ministry for the appointment of merchant bankers.
