Govt plans to sell 3.5% stake in Hindustan Aeronautics through OFS

The government owns 75 per cent in the public sector aerospace and defence business

The government plans to sell up to 3.5 percent of its stake in aerospace and defence company Hindustan Aeronautics (HAL) through an offer for sale (OFS) to raise over Rs 2,867 crore this fiscal, according to an exchange filing on Wednesday. It owns a 75 percent stake in HAL.

The 3.5 per cent stake sale comprised 1.75 per cent as the base offer and 1.75 per cent as an additional option. The offer will open on March 23 and will continue till March 24th.

According to the regulatory filing, the government has proposed to sell 1.75 percent of its