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market | IST

Hindustan Aeronautics OFS likely this month

CNBC-TV18 learnt from sources that government may look at bringing out an OFS or offer for sale issue for Hindustan Aeronautics Limited and that could happen as early as this month itself.

Hindustan Aeronautics is in focus and sources are indicating that the government is likely to launch its offer for sale (OFS) this month.
CNBC-TV18 learnt from sources that government may look at bringing out an OFS or offer for sale issue for Hindustan Aeronautics Limited and that could happen as early as this month itself.
According to sources, in the initial phase, the government may look at divesting about 0.15 percent of its stake in Hindustan Aeronautics Limited. Remember the government owns about 75.15 percent stake in the company and with the divestment of 0.15 percent stake, it will be able to comply with the minimum public shareholding norms.
Also, the government is open to exploring options when it comes to even selling a larger portion of the stake in Hindustan Aeronautics. The government has also spoken to bankers and asked them to give feedback or a report in terms of what is the market appetite as far as Hindustan Aeronautics OFS is concerned.
Looking at that report, the government could also consider and explore ways in which it can divest a higher stake of course, over and above 0.15 percent stake which it looks to dilute through this OFS issue.