State-owned aerospace company Hindustan Aeronautics Ltd is prepping up for a public offer. The company is preparing for an IPO according to government guidelines for delisting 10 percent of its shareholding, Chairman T Suvarna Raju told CNBC-TV18 on the sidelines of Aero India Show 2017.
He, however, refrained from giving a specific disinvestment timeline and valuation for the initial public offer.
Raju said HAL wants a larger order book and the company’s current order book of Rs 46,000 crore is is not “large order book” for an aviation company. Commenting on exports, HAL services orders worth about Rs 500 crore comprising Airbus doors and defence and civil exports to Boeing and Dornier, he added.
Besides, Hindustan Aeronautics Ltd (HAL) expressed confidence that the HAL Airport in Bengaluru would open for some operations in the next few months. "When the regional connectivity policy was announced, Bengaluru's HAL airport was not listed by the (aviation) Ministry. We appealed to them to list our airport in it and allow regional connectivity from HAL airport," Raju told reporters. "We are confident in the next few months some operations would definitely open up," he added.
— With PTI inputs