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Govt Looking To Sell Up To 25% Stake in 4 Defence Companies; Here's How

Govt has been divesting its stake in several companies to meet its 725 billion rupees divestment target during FY18.

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Govt Looking To Sell Up To 25% Stake in 4 Defence Companies; Here's How

The government has invited proposals for the IPO by 3 p.m. on Aug. 18.

Mumbai: The government of India is considering selling up to 25 per cent of its stake in four state-owned companies under the control of the department of defence through an initial public offering, a public notice showed on Friday.

The government has invited proposals for the IPO by 3 p.m. (0930 GMT) on Aug. 18. The government is looking to sell stakes in Mazagon Dock Ltd, Bharat Dynamics Ltd, Garden Reach Shipbuilders & Engineers Ltd and Mishra Dhatu Nigam Ltd.

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Prime Minister Narendra Modi's government has been divesting its stake in several public and private companies to meet its 725 billion rupees ($11.38 billion) divestment target during the year to March 2018.
($1 = 63.6900 Indian rupees)
 
© Thomson Reuters 2017


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