Modi government will sell its stake in a very big company in the country
Modi government will sell its stake in a very big company in the country

New Delhi: In an attempt to achieve a target of Rs 65,000 crore in FY 2020, the government's 15 per cent stake for the Department of Disinvestment (Depam) Hindustan Aeronautics Ltd (HAL) for sale through OFS route in the first week of March Can be brought Sources have given information in this regard.

At a market price of Rs 774 per share, the government will get a little over Rs 3,843 crore. The company earned a net profit of Rs 2,282 crore in the financial year 2018-19. Sources have said that efforts are on to stop OFS till the first week of March. Revenue can be achieved in the shortest time by selling through OFS. The department last month issued a Request for Proposal Request (RFP) from merchant banks and brokers for OFS.

The government holds 89.97 percent stake in HAL. The face value of each equity is Rs 10. The government has so far received Rs 34,000 crore, including Rs 16,500 crore for the seventh part of the CPSE ETF. The authorized share capital of the 55-year-old company is Rs 600 crore and the equity capital has been paid up to 31 March 2019.

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