SOURCE: AFI
Hindustan Aeronautics Limited (HAL) has issued a clarification regarding recent news reports about the procurement of LCA Tejas Mk1A fighter jets. HAL confirms that only a Request for Proposal (RFP) was received in April 2024 for 97 LCA Tejas Mk1A aircraft. A contract with the Indian Air Force (IAF) is yet to be signed.
The Defence Acquisition Council (DAC) approved the procurement of these jets in November 2023 (already informed via stock exchange). After HAL submits its price bid, negotiations with the IAF will follow before finalizing the contract.
As only an RFP has been received and the process is ongoing, this doesn’t require immediate disclosure under SEBI regulations. However, HAL will disclose the contract award if and when it happens. HAL will make a public announcement upon the award of the final contract.