March 20, 2013 2:11 PM

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EGoM clears 10.82% stake sale in SAIL

An inter-ministerial panel today cleared a 10.82 per cent stake sale in steel major SAIL and decided that the issue will hit the markets on Friday. A top Finance Ministry official said, the Empowered Group of Ministers on Disinvestment, headed by Finance Minister P Chidambaram, met and decided on the pricing of the share sale. The base price would be made public only after the close of market hours tomorrow.Disinvestment Secretary Ravi Mathur told reporters in New Delhi today that the details of the SAIL stake sale would be informed to the stock exchanges later in the day. The Department of Disinvestment has already held roadshows in Singapore, Hong Kong, US, UK and continental Europe for the proposed SAIL disinvestment.

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