HAL Share Price: Hindustan Aeronautics Limited’s (HAL) share price got highly influenced by the government’s decision on Thursday morning as its shares saw a decline of five percent.
HAL is an aeronautical defense company situated in Bangalore. It is one of the oldest organizations manufacturing aircraft in the world. HAL is currently involved in designing and manufacturing fighter jets, helicopters, jet engines and marine gas turbine engines, avionics, software development, spares supply, overhauling, and upgrading of Indian military aircraft.
HAL Share Price: Which Decision of the Govt. Impacted its Shares
Source: NSE
HAL Share Price: HAL’s shares fell more than 5 percent to Rs 2,475 as per BSE’s report after the government introduced an offer for sale (OFS) according to which the government is all set to sell a 3.5% stake in HAL at a base price of Rs 2,450.
The defense company’s 3.5% stake will provide credits of Rs 2,867 crore to the government. The stake sell price for HAL was set at Rs 2,450 at a discount to Wednesday’s close.
HAL stake sale: Offer for Sale (OFS)
HAL Share Price: The government has planned to sell a 1.75 percent stake on March 23-24 and might sell another half of the stake if required. The two-day offer sale will open for institutional investors on Thursday and for retailers on Friday.
The Offer for Sale (OFS) comprises 1.75 percent or 58.51 lakh shares. It comes with an option of retaining an over-subscription of an equal quantum. The over-subscription will represent 3.50 percent denoting 1,17,03,563 equity shares of the company.
Hindustan Aeronautics Limited (HAL) made a net profit of Rs 1,155 crore this previous year which was 24% more than the previous year’s total of Rs 933 crore. However, its revenue from Operations plunged from Rs 5,894 crore to Rs 5,665 crore.
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