Government is planning to sell 5 per cent stake in Steel Authority of India (SAIL) through an offer for sale, which could fetch about Rs 1,000 crore to the exchequer. Officials from the Department of Investment and Public Asset Management (DIPAM) and steel ministry are planning roadshows in Singapore and Hong Kong for the company stake sale.
However, the Hong Kong roadshow might be called off due to coronavirus outbreak. The government holds 75 per cent stake in the company. It had last sold 5 per cent stake in the steel CPSE in December 2014.
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.
