Hindustan Aeronautics (HAL) is holding discussions with India’s Ministry of Defence to hold an initial public offering (IPO) in its effort to increase corporate governance.
HAL Finance Director D Shivamurti said, “The final decision on the listing, which will reduce the state’s stake in the company, will be taken by the government.”
Shivamurti said HAL will invest $4.39bn over the next ten years to develop and manufacture new products, with the capital from its cash reserves.
HAL is considering to produce 1,500 helicopters in the next ten years, including 100 Dhruv advanced light helicopters, 300 light utility helicopters and 400 multi-role helicopters.
The company is also planning to launch a multi-role transport aircraft, which it is developing with Russia’s United Aircraft Corporation and Rosoboronexport, by 31 March 2017.
The transport plane will have a payload capacity of 15-20 metric tonnes, according to The Wall Street Journal.
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