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Govt proposes disinvestment in HAL

Posted on Dec 04, 06:58PM | IBNS

The government has proposed to disinvest 10pc of its equity in Hindustan Aeronautics Limited (HAL).

This information was given by Minister of State for Defence Shri Jitendra Singh in a written reply in Lok Sabha on Tuesday.

"The disinvestment of HAL is being proposed in pursuance of Government policy on disinvestment which inter-alia envisages listing on the stock exchanges of all the unlisted Central Public Sector Enterprises having a positive net worth, no accumulated losses and having earned net profits in three preceding consecutive years," said Singh.

The proposal is expected to be implemented within six months from the date of complying with SEBI guidelines relating to the composition of Board of Directors by the company.