Govt likely to sell 5% stake in SAIL

Govt likely to sell 5% stake in SAIL

FPJ BureauUpdated: Saturday, June 01, 2019, 10:57 AM IST
article-image

New Delhi : Kick starting the divestment process, the Narendra Modi government is likely to sell 5% stake in state-run Steel Authority of India Ltd in the last week of this month, people involved in the process said. The government holds 80 per cent stake in SAIL. A 5 per cent dilution would help the government meet the minimum 25per cent public shareholding norm of market regulator Sebi.

The government is likely to divest 5% of its stake in MMTC Ltd to raise 4-5 bln rupees in the current financial year, a senior government official said.
“Though it was not a part of the agenda set earlier, after the Securities and Exchange Board of India changes its public shareholding norms, we could include it and go for 5% stake sale,” the official said, adding that the issue could help raise 4-5 bln rupees for the government.

RECENT STORIES

Kraft Heinz To Set Up Separate Companies Of $20 Billion, An "Extreme Reversal" For A Firm Hailed As...

Kraft Heinz To Set Up Separate Companies Of $20 Billion, An

Not Filing One's Income Tax Return On Time Incurs Late Filing Charges, Says Section 234F Of Income...

Not Filing One's Income Tax Return On Time Incurs Late Filing Charges, Says Section 234F Of Income...

The Wealth Company : One Of The Fastest Scaled-up Investment Management, Making Impact

The Wealth Company : One Of The Fastest Scaled-up Investment Management, Making Impact

Air Cargo Industry Consistently Shows Strength & Adaptability During Challenging Times, Says Sanjiv...

Air Cargo Industry Consistently Shows Strength & Adaptability During Challenging Times, Says Sanjiv...

India's Net Direct Tax Collection Falls 1.3% Year-On-Year To 5.6 Trillion Rupees, Says Income Tax...

India's Net Direct Tax Collection Falls 1.3% Year-On-Year To 5.6 Trillion Rupees, Says Income Tax...