Last Updated: March 22, 2023, 19:30 IST
The authorities owns a 75.15% stake in HAL, based on Refinitiv Eikon.
So far, the federal government has mopped up 311.1 billion rupees by promoting its shares in state-run companies.
India is planning to promote as much as 3.5% stake in aerospace and defence firm Hindustan Aeronautics Ltd this week in a deal that might fetch the federal government 28.67 billion rupees ($347.16 million), an trade submitting confirmed on Wednesday.
So far, the federal government has mopped up 311.1 billion rupees by promoting its shares in state-run companies as in opposition to its goal of 500 billion rupees for the monetary yr ending March 31.
The Indian authorities stares at lacking its divestment goal for 2022/23 because it plans to placed on maintain the half sale of its stake in Hindustan Zinc (HZL) except the corporate calls off the practically $3 billion money acquisition of two Vedanta Group subsidiaries.
The ground value for the HAL stake sale is about at 2,450 rupees apiece, at a reduction of 6.7% to Wednesday’s shut.
The authorities owns a 75.15% stake in HAL, based on Refinitiv Eikon.
The authorities plans to promote a 1.75% stake on March 23-24, and has the choice to promote 1.75% extra stake if wanted.
Divestments in state-owned companies is a key revenue-raising measure that helps authorities to spend on infrastructure-building.
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(This story has not been edited by News18 workers and is printed from a syndicated information company feed)
