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Rashtriya Ispat Nigam Ltd, the Visakhapatnam steel plant, is proposing to make a public offer of equity shares and has filed a draft red herring prospects with the Securities and Exchange Board of India on Friday in Mumbai, according to sources.
The RINL was converted into a public limited company after a resolution was passed by the shareholders at the extraordinary general meeting on April 21.
A decision was taken to offload 10 per cent of the stake.
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