Government is likely to sell 5% stake in state-run Steel Authority of India (SAIL) by month end. The proposed stake sale would help the company comply with Indian stock market rules requiring that publicly listed companies have an equity free float of at least 25%. A five percent stake in SAIL is expected to fetch the exchequer around $330 million based on the company's current market price of share.
SAIL is India's largest steel producing company. The company is among the five Maharatnas of the country's Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
