The government plans to sell 25% of its stakes from state-owned Mazagon Dock, Bharat Dynamics, Garden Reach Shipbuilders & Engineers and Mishra Dhatu Nigam to meet its Rs 72,500 ($11.38 billion) divestment target during the year to March 2018.
The Department of Investment and Public Asset Management (DIPAM) invited proposals for the IPO by 3 PM on August 18, Business Standard reported Saturday.
The Cabinet in April cleared the disinvestment of these four PSUs under the defence ministry, and thereafter DIPAM invited bids from merchant bankers and legal advisors for managing the stake sales.
Indias navy is readying to receive INS Kalvari, an attack submarine later this month as part of major steps in rebuilding its depleted underwater combat forces. The commissioning later this month of this Scorpene class submarine is a major achievement in Indias move to rebuild its depleted underwater fighting force, and the first of six on order,
Fifty eight contracts worth over US$19 billion (INR 1,21563 CR) have been signed with foreign vendors for acquisition of defence equipment for the armed forces in the last three financial years, Indian government said Friday. In information given by India's Minister of State for Defence Dr
India should co-develop the fifth generation stealth fighter with Russia, says a panel that was appointed by the countrys defence ministry to examine a fifth generation fighter aircraft (FGFA) project based on the PAK-FA. The committee, headed by Air Marshal Simhakutty Varthaman (retd), has recommended India should go ahead with it in the face of reservations by the Indian Air Force,
Rafael has opened a missile manufacturing plant in India along with its Indian partner Kalyani Strategic Systems. The factory would manufacture Spike anti-tank missiles which are part of half a billion dollar deal with India, the company said in a statement Thursday
The largest Offshore Patrol Vessel (AOPV) of the Sri Lanka Navy (SLN), received its commission by the President Maithripala Sirisena during a ceremony in Colombo harbour on Wednesday. Constructed by the Goa Shipyard Limited (GSL) in India and christened as 'SLNS Sayurala' is the first ever brand new AOPV purchased from a foreign ship builder, custom made for the specific requirements of the SLN
US has denied transfer of critical technology and production of F-16 fighter jets under the ‘Make in India initiative. To a question on whether the US has agreed for transfer of sophisticated technology and production of F-16 jets under the ‘Make in India initiative, Subhash Bhamre, Minister of State for Defense said “no”
Indian state-run Hindustan Aeronautics Limited (HAL) has conducted successful trails of its Jaguar DARIN III aircraft with active electronically scanned array (AESA) radar as well as 28 new sensors. The maiden flight test was conducted on Friday is the first aircraft operated by the Indian Air Force (IAF) to have electronically controlled AESA radars,
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