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Hindustan Aeronautics files for IPO

LiveMint logoLiveMint 03-10-2017 Reuters

Mumbai: Hindustan Aeronautics Ltd (HAL) has filed for an initial public offering (IPO) of shares that will see the government selling a tenth of the military aircraft maker.

The government, which fully owns HAL, is seeking to sell about 36.2 million shares in the IPO, according to a company filing with capital markets regulator Securities and Exchange Board of India (Sebi).

HAL had a revenue of Rs17,952 crore and a net profit of Rs2,625 crore for the year ended last March, the filing showed.

SBI Capital Markets and Axis Capital are managing the IPO, which was first approved by the government in 2012.

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