Divestment in SAIL along with IPO
The government currently owns 85.82 per cent stake in SAIL and is planning to divest some portion to bring down its stake to nearly 75%. In the proposed meeting tomorrow decision will be finalized about divestment of this largest steel producing PSU.
Along with this an, an IPO of SAIL is also proposed for funding a part of Rs. 70000 expansion project.
Besides government stake, about 4.59 per cent is with the Life Insurance Corp and the rest is with the public.
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