New Delhi: The government is going to sell its stake in HAL i.e. Hindustan Aeronautics Limited. According to the news received, the government will sell up to a 10% stake through OFS-Offer For Sale. The floor price for its OFS has been fixed at Rs 1001 per share. OFS will open on Thursday for non-retail investors. Let us tell you that HAL is a Navratna company. HAL got the status of Navratna Company in June 2007. It is the largest government company in the defense sector in terms of the value of production.
It manufactures many types of products. Apart from this, it also works for product design, repair, maintenance, etc. Its products list includes aircraft, helicopters, avionics, accessories, and aerospace structures.
The specialty of HAL is that it is largely dependent on its research. Apart from this, technology transfer and license agreements have also been made for the production of many products. It has 13 commercial joint ventures to expand the business.
Know about OFS
OFS is called Offer for Sale. Promoters of listed companies in the stock market use it to reduce their stake. According to SEBI rules, any company which wants to issue OFS has to inform the SEBI as well as NSE and BSE two days before the issue. After this, investors can get involved in this process by giving information to the exchange. Investors have to provide information about the price at which they want to buy shares. The investor files his bid. After that, the proposals for the total bids are calculated and this shows how much the issue has been subscribed. After this, when the process is complete, the allotment of stocks occurs.
