Hindustan Aeronautics Limited, state-owned aerospace and defense company based in Bangalore, initiated the process of an initial public offering to divest 10% of its shares.
The IPO is for 361,500,000 equity shares with a face value of $0.15 each. “A discount of up to 5% on the offer price may be offered to retail individual bidders and to eligible employees,” Hindustan Aeronautics said.
Company chairman and managing director T. Suvarna Raju termed the partial disinvestment as a major milestone for the company, reports the Times of India.
