SAIL disinvestment : Govt planning an IPO
The Steel Ministry has approached the Ministry of Finance to initiate the disinvestment process in SAIL. An IPO is also being looked at the talk between two ministries.
SAIL is the largest steel maker of India and as market is in greens zone, govt wants to reduce its holding but not less than 75%. The equity sale could go along with the proposed public issue.
The government currently owns 85.82% stake in SAIL. Besides, about 4.59% is with the Life Insurance Corporation and the rest is with the public. The CMP of SAIL is Rs 169.
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