SAIL FPO : Planning an FPO by early February

by khalid on 27/12/2010 · 1 comment

Steel Authority of India Limited (SAIL) is planning to come up with its Follow-on Public Offer (FPO) by early February 2011. The company wants to shed 20 per cent of its paid up capital through this FPO. Steel Authority of India Limited (SAIL), a Navratna state-owned public sector company, is one of the largest producer of steel in the world. SAIL’s principal products include hot rolled coils, plates and rails.

Earlier the Government had announced that it has cleared the proposed 20 Percent disinvestment in Steel Authority of India Ltd. (SAIL) and it will bring Rs 16000 crores to the Government corpus. There will be two-tranche disinvestment, the government and the company would get Rs 8000 crores each. After this disinvestment, the government’s equity in SAIL will fall to 69% from 89% currently.

Share’s Data :-
BSE Code : 500113
Mkt. Cap: Rs 76,556.96 Crores
Steel Authority of India (SAIL) Ltd. share’s CMP is Rs 185.35 on 24th Dec 2010.

Stay tuned to BelltheBull Blog for more news on Steel Authority of India (SAIL) Limited !

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