top stories 

  • Andhra begins process to ...

  • Engrave Apple devices in ...

  • Taimur Ali Khan shows off...

  • Analytical coach Chris Ci...

  • Tesla's value drops $50 b...

  • Blue Dart to hike average...

  • China's Jinping, top glob...

  • Coronavirus LIVE: India R...

  • Surging dollar holds near...

  • Now, parents to collect ...

  • IIT JEE Advanced 2020 Reg...

  • Coronavirus pandemic: Whe...

  • I’m Thinking of Ending ...

  • New Chinese rules on expo...

  • IPL 2020: Suresh Raina Ba...

  • Here's how our IPL 2020 c...

  • Tom Banton Smashes Maiden...

  • Covid: J-K directs priv...

  • Covid-19: What you need t...

  • Redmi 9 to launch in Indi...

headings 

Admin Reporter- POOJA1

Aug 27 2020


Govt to sell 15% stake in Hindustan Aeronautics to raise Rs 5,020 cr

Thursday, 27 August 2020

The government plans to sell as much as 15% stake in state-run defense contractor Hindustan Aeronautics. through a public offering of shares, as Prime Minister Narendra Modi seeks funds to shore up government coffers.The Indian government will sell a stake of about 10 per cent, with an option to sell a further 5 per cent in the company, according to a stock exchange filing on Wednesday.

 

 

 

 


At a floor price of Rs 1,001 a share, the sale could fetch as much as Rs 5,020 crore ($680 million). Retail investors will get a 5 per cent discount on the offer price. The floor price is at a discount of almost 15 per cent to HAL’s closing price of Rs 1,177.80 on Wednesday.chartModi’s administration is raising funds to bridge a fiscal deficit that’s threatening to spiral out of control on the back of the worst economic decline in decades. The government hopes its drive to purchase weaponry from local players and attempts to move away from being the world’s largest defense importer will draw investors to the offering.

instagram imagesfollow us @ instagram