SAIL divestment to be taken up on Feb 18

The Cabinet is likely to approve the state-run steel maker SAIL's 20 per cent share sale plan at its meeting scheduled for Thursday. The matter is to be listed in this week's Cabinet meeting. In all likelihood, it will be considered and approved by the Cabinet when it meets this Thursday (February 18). The share sale is proposed to be done through a two-phased follow-on-public offer which will see the government selling 10 per cent of its equity and the company raising fresh equity in the same proportion.