Govt. is reducing its investment in HAL and HAL had an IPO in 2018. [1][2] Ofc, Indian institutions are averse to privatization. So it has been a slow process.

Govt. is reducing its investment in HAL and HAL had an IPO in 2018. [1][2] Ofc, Indian institutions are averse to privatization. So it has been a slow process. That being said, the direction of change is towards steady privatization. [1] https://www.reuters.com/markets/deals/indian-govt-proposes-sell-up-35-stake-hal-2023-03-22/ https://www.reuters.com/markets/deals/indian-govt-proposes-s... [2] https://theprint.in/economy/rafale-snub-no-death-knell-hals-market-cap-up-280-since-ipo-launch-is-now-biggest-defence-psu/1620546/ https://theprint.in/economy/rafale-snub-no-death-knell-hals-...