India Looking To Sell Up To 25% Stake In Four Defence Companies Via IPO
Prime Minister Narendra Modi's government has been divesting its stake in several public and private companies to meet its Rs 725 billion divestment target during the year to March 2018
Photo Credit : Reuters,
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 (IPO), a public notice showed on Friday (4 August).
The government has invited proposals for the IPO by 3 pm (0930 GMT) on August 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.
Prime Minister Narendra Modi's government has been divesting its stake in several public and private companies to meet its Rs 725 billion divestment target during the year to March 2018.
(Reuters)