Government’s clearance to 10.82 percent disinvestment of stake in SAIL

• The government has approved 10.82 % disinvestment of its hold in Steel Authority of India (SAIL).
• The SAIL public offer has got the clearance of the Cabinet Committee on Economic Affairs (CCEA).
• The share sale process, which will be done through auction route or offer for sale, is projected to generate over Rs 4,000 crore for the government exchequer.
• The government presently has 85.82 % stake in SAIL. After the disinvestment, the government of India’s shareholding in SAIL would get reduced to 75%.

Month: Current Affairs - July, 2012