Business | Aviation

India to sell stake in HAL

India plans to sell stakes in 15 state-run firms

  • Reuters
  • Published: 16:19 November 8, 2012
  • Gulf News

New Delhi: India’s cabinet of minister agreed to sell a 10 per cent stake in state-owned aircraft maker Hindustan Aeronautics Ltd (HAL), a senior minister said on Thursday.

Science and Technology Minister, Jaipal Reddy, did not clarify on the timeline of the divestment or on the price the government expects to receive on the stake sale.

India plans to sell stakes in 15 state-run firms by the end of March next year and looks to raise Rs300 billion ($5.4 billion) from the sales to help plug a yawning gap in the fiscal budget.

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