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Govt to sell 10% stake in HAL via Rs 4,230-cr public offer
As part of the divestment process, government will divest 10 per cent of its stake in the public sector chopper-maker Hindustan Aeronautics, which on Tuesday launched a Rs 4,230-crore initial public offer.
As part of the IPO that hits the market on March 16, the Maharatna company will also sell 10.20 per cent of its equity through and offer-for-sale route. The firm, which gets over 91 per cent of its sales from the defence sector including the Coast Guard, has fixed a price band at Rs 1,215-1,240 per equity share for the offer that will hit the market on March 16 and close on March 20.
The sale is part of the government’s Rs 75,000-crore divestment process, which for the first time in many years, has already crossed the target.
The proceeds from the stake dilution is important as government badly needs to meet the 3.5 per cent fiscal deficit target set for the year.
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Sunday EditionView All
18 Mar 2018 | PNS
AAI conducts international workshop for utilizing GAGAN In keeping with the Prime Minister’s objective of using technology as a means of development and co-operation, Airports Authority of India has now offered GPS-aided Geo Augmented Navigation (GAGAN) to SAARC and Southeast Asian countries in order to allow them to reap the significant benefits that accrue from such an advanced navigation system. AAI conducted a two-day workshop on March 15 and 16, 2018...
STATE EDITIONSView All
19 Mar 2018 | Staff Reporter | Bhopal
Leader of the Opposition in the state assembly Ajay Singh said that the claims of women well-wisher Chief Minister Shivraj Singh are deceiving as miscreants with minor offences are arrested with immediate effect, but in the matter related to a minister's son, Chouhan says enquiry would be conducted He further alleged that prime facie, minister's son was responsible for Preeti Raghuvanshi’s suicide. Chief Minister Shivraj Singh Chouhan today instructed police officials to...