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Govt to dilute 10% stake in military plane maker HAL

Bengaluru-based HAL files its DHRP with Sebi for IPO

Jaitley inaugurates light combat helicopter manufacture in HAL

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Light combat helicopter. Beyond the current initial order, the Indian Army has committed to ordering 114 LCHs, and the Indian Air Force another 65

Raghu Krishnan Bengaluru

Last Updated : Oct 02 2017 | 1:19 AM IST

The government has approved the sale of a 10 per cent stake in public sector military planemaker Hindustan Aeronautics Ltd (HAL) through an initial public offering.

This comes at a time when it is witnessing competition from private players such as Reliance Defence, Adani and Tata Group bidding to bag fighter plane contracts for the Indian armed forces.

Bengaluru-based HAL filed its draft red herring prospectus (DHRP) with market regulator Securities and Exchange Board of India (Sebi) on September 29, the firm stated on Sunday.

So far, HAL has been the sole player in the country building fighter aircraft such as Sukhoi-30-MkI and

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