The Cabinet Committee on Economic Affairs has approved the disinvestment of 10.82% stake in Steel Authority of India (SAIL) from Government of India’s shareholding. The share sale process, proposed to be conducted through auction route or offer for sale, is expected to fetch over Rs 4,000 crore to the government.
Post this disinvestment Government of India’s shareholding in the company would come down to 75%. At present, Govt. holds 85.82% stake in the company.
The paid up equity capital of the company, as on March 31, 2012 was Rs 4130.53 crore. SAIL is a listed Maharatna Central Public Sector Enterprise and is the largest domestic steel producing company. It is also engaged in the business of mining, production and marketing of iron and steel.
