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India's Hindustan Aeronautics To Go Public

India's Hindustan Aeronautics To Go Public

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.

HAL Logo

Company chairman and managing director T. Suvarna Raju termed the partial disinvestment as a major milestone for the company, reports the Times of India.

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