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HAL, Bharat Dynamics to buy back govt shares worth Rs 4250cr

Updated: July 1, 2016 11:47 am

The government is looking to unlock value in two public sector undertakings (PSUs) – Hindustan Aeronautics and Bharat Dynamics — which will buy back government shares, reports said. The final details for this buyback have been worked out by the defence ministry and the finance ministry. The official announcement is likely to be soon, say sources. HAL is likely to buy back 10 percent of government shares, which will fetch the government exchequer around Rs 4000 crore. Bharat Dynamics is also looking at buying back 10 percent government shares, though the deal size could be much smaller at around Rs 200-250 crore.

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