SAIL eyeing to raise Rs 5,000 crore for modernization programmes

Steel Authority of India (SAIL), the country’s largest steel maker, is eyeing to raise up to Rs 5,000 crore through private placement and the proceeds will be utilized for modernization programmes, among others. The state-run firm will seeks shareholders’ nod for a special resolution at its Annual General Meeting (AGM) next month.

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.