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CCEA may consider SAIL divestment

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The Cabinet Committee on Economic Affairs (CCEA) may take up the proposal for disinvestment in SAIL on Thursday. The proposal is to offload 10 per cent Government equity by way of auction to bring in Rs 3,500-4,000 crore. This proposal is different from the original one approved by the CCEA in April 2010. At that time, it was decided to divest 10 per cent of Government’s share in SAIL along with issue of 10 per cent fresh equity by the company in two equal tranches. However, due to some issues with merchant bankers and market volatility, the Government deferred the SAIL offer. — Our Bureau

(This article was published in the Business Line print edition dated July 12, 2012)
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