SAIL

SAIL

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Steel Authority of India Ltd. (SAIL)

PIB Press Release dated 8 April 2010- Raising of additional equity by the Steel Authority of India Ltd. (SAIL) and disinvestment of a portion of the Government equity in SAIL through offer for sale.

The Cabinet Committee on Economic Affairs (CCEA) approved the proposal for raising additional equity by the Steel Authority of India Ltd.(SAIL) to the extent of 10% of the paid-up equity and disinvestment of a portion of Government of India’s shareholding in SAIL by an extent of 10% through offer for sale, to be carried out in two separate trenches.

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Steel Authority of India Limited (SAIL)

Disinvestment of 10.82% paid up equity in Steel Authority of India Limited out of Government of India shareholding of 85.82 percent)

The Cabinet Committee on Economic Affairs has approved the disinvestment of 10.82% equity of Steel Authority of India Limited (SAIL) out of Government of India shareholding of 85.82% through an Offer of Sale of shares through stock exchanges as per SEBI Rules and Regulations. After this disinvestment Government of India shareholding in the company would come down to 75%.

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