The Government is planning to sell up to 10 per cent stake in defence PSU Mishra Dhatu Nigam Ltd (MIDHANI) in the current fiscal ending March, an official said.
The company got listed on stock exchanges in April 2018 and the government had raised Rs 438 crore by selling 26 per cent stake through IPO.
The official said that with the opening of space sector to foinvestment and bringing defence sector under automatic route for 74 per cent foreign direct investment (FDI), MIDHANI shares are expected to attract investors.
MIDHANI manufactures special steel and super alloys for use in defence, nuclear and space sectors. “We are looking at up to 10 per cent stake dilution via offer for sale,” the official said. Shares of MIDHANI closed at Rs 193.50 apiece on the BSE on Friday.