IPO: Hindustan Aeronautics Limited
Company& Business Profile
Hindustan Aeronautics Limited (HAL), is the largest defence public sector undertaking (PSU) in the country. Company makes fighter planes such as MiG-21, MiG-27, Jaguar, and Su-30 MkI. It is engaged in the design, development, manufacture, repair, overhaul, upgrade and servicing of aircraft, helicopters, aeroengines, avionics, accessories and aerospace structures.
HAL’s operations are spread across 5 complexes, namely Bangalore Complex, MiG Complex, Helicopter Complex, Accessories Complex, and Design Complex, which together include 20 production divisions and 11 Research and Design
centres located across India.
HAL is relying on indigenous research as well as entered into technology transfer and license agreements to manufacture their products. In addition, it has entered into 13 commercial joint ventures to grow its operations.
Objects of the Issue:
Company will not receive any proceeds from the Offer and all proceeds shall go to the Selling Shareholder
The objects of the Offer are:
- To carry out the disinvestment of 34,107,525 Equity Shares by the Selling Shareholder (President of India) constituting 10% of the Company’s pre-Offer paid up Equity Share capital the Company; and
- To achieve the benefits of listing the Equity Shares on the Stock Exchanges.
Listing:
The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
For more information read IPO Note
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Source: chittorgarh.com