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HAL shares fall 11% after government mulls selling stake

Currently, the government holds an 89.97 percent stake in HAL.

Hindustan Aeronautics (HAL) share price tumbled over 11 percent intraday on August 27 after reports made rounds that the government will sell up to 15 percent stake in the company via offer for sale (OFS).

While the government proposes to sell 3,34,38,750 equity shares representing 10 percent paid-up share capital of the company (base offer size), there is an option to sell an additional 5 percent stake or 1,67,19,375 equity shares (oversubscription option).

“…in the event, the oversubscription option is exercised, the equity shares forming part of the base offer size and the oversubscription option will…

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