HAL to di­vest 10 % eq­uity

Vayu Aerospace and Defence - - Aviation Defence & In India -

The Gov­ern­ment of In­dia has ap­proved the sale of a 10 per­cent stake in Hin­dus­tan Aero­nau­tics Ltd. Ac­cord­ingly HAL has ini­ti­ated the process of Ini­tial pub­lic of­fer (IPO) with the fil­ing of the Draft Red Her­rring Prospec­tus (DRHP) on 29 Septem­ber 2017 with mar­ket reg­u­la­tor SEBI. “This is a ma­jor mile­stone to­wards listing of the de­fence PSU which is slated for par­tial dis­in­vest­ment,”stated T Su­varna Raju, CMD HAL.

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