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Apr 14, 2017 04:15 PM IST | Source: CNBC-TV18

HAL will be ready to launch IPO by end of August: MD

Speaking to CNBC-TV18, Chairman and Managing Director T Suvarna Raju said the IPO has been delayed as it required some concessions as far as putting data in the public domain was concerned.

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The long-awaited initial public offering (IPO) of Hindustan Aeronautics Limited (HAL) could finally see the light of day by the end of August, said Chairman and Managing Director T Suvarna Raju.

Speaking to CNBC-TV18, Raju said the IPO of the state-owned aerospace and defence company has been delayed as it required some concessions as far as putting data in the public domain was concerned.

"We will have to wait till the results of the past financial year are audited," said Raju. "We should be ready (for the IPO) by July or August."

At the Aero India 2017 a couple of months ago, he had said progress that was made on identification of Book Running Lead Managers and preparation of draft red herring prospectus and that necessary documents were in place.

Reports have long suggested that the company plans to divest 10% of its shareholding and go public, but it has been delayed for various reasons.

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