After so many postponement of the state navaratna Steel Authority of India (SAIL) FPO since December last year due to unfavourable market conditions and problems with merchant bankers. The largest steel producer of India has finally decided to hit the market in end of May 2011. Steel Authority of India Limited (SAIL) is India’s largest steel producing company. With a turnover of Rs. 43,935 crore, the company is among the four Maharatnas of the country’s Central Public Sector Enterprises. SAIL has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
The Government is 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 71,827.66 Crores
Steel Authority of India (SAIL) Ltd. share’s CMP is Rs 173.90 on 7th Apr 2011.
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