State-owned Hindustan Aeronautics files for IPO
State-owned fighter jet maker Hindustan Aeronautics (HAL) has said it filed a draft prospectus for its Initial Public Offering (IPO). "This is a major milestone towards listing of the defence PSU which is slated for partial disinvestment by the Government of India," HAL Chairman T Suvarna Raju said. The government approved the sale of 10% stake in HAL in 2012.