The Centre is planning to sell five percent stake in state-owned defence player Hindustan Aeronautics (HAL) via an offer for sale, sources told CNBC-Awaaz. The disinvestment process is likely to be concluded in August itself.
Currently, the government holds a 90 percent stake in HAL, and it is expected to rake in up to Rs 2,000 crore via the stake sale.
For the financial year ended March 31, 2020, HAL recorded a turnover of over Rs 21,100 crore (provisional and unaudited), up from the previous year’s Rs 19,705 crore.
Hindustan Aeronautics share price closed at Rs 1,261.75, down Rs 11.65, or 0.91 percent after hitting an intraday high of Rs 1,360 and an intraday low of Rs 1,250 on the BSE. Its market capitalisation stands at Rs 42,191.34 crore