SAIL floor price set at 83 per share
NEW DELHI: The government set a floor price of Rs 83 for selling 5% stake in state-run Steel Authority of India Ltd (SAIL) on Thursday, setting the stage for the first stake sale for the Narendra Modi administration.Jackpot Trading Tips
The offer for sale, which is expected to raise up to Rs 1700 crore for the NDA government, will kick off on Friday and will be first major stake sale by the Modi government as it races to meet the target of raising Rs 63,000 crore from asset sales.
"Government expects to garner Rs 1,500 crore to Rs 1,700 crore from SAIL disinvestment. Retail investors will get a discount of 5%," a finance ministry official said. SAIL shares closed at Rs 85 on Thursday on BSE. The government owns 80% in SAIL.Intraday Trading Tips
The offer for sale, which is expected to raise up to Rs 1700 crore for the NDA government, will kick off on Friday and will be first major stake sale by the Modi government as it races to meet the target of raising Rs 63,000 crore from asset sales.
"Government expects to garner Rs 1,500 crore to Rs 1,700 crore from SAIL disinvestment. Retail investors will get a discount of 5%," a finance ministry official said. SAIL shares closed at Rs 85 on Thursday on BSE. The government owns 80% in SAIL.Intraday Trading Tips
posted by Naresh Jain @ 21:04
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