The Department of Disinvestment will seek the Cabinet approval on Thursday to sell government’s 10.82 per cent stake in Steel Authority of India (SAIL) through auction route.
The share sale is likely to fetch Rs 4,000 crore to the government. “The DoD’s proposal for disinvestment in SAIL is scheduled to be taken up by the Cabinet Committee on Economic Affairs on Thursday,” a senior official said. The proposal is to sell the stake through offer for sale or auction route. The government at present holds 85.82 per cent in the steel major.
(Published 11 July 2012, 16:27 IST)
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