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| Edited By: |Source: PTI |Updated: Mar 17, 2018, 03:35 AM IST
The government today approved a 20% disinvestment in Steel Authority of India Ltd that would fetch a total of Rs16,000 crore.
Following the two-tranche disinvestment, the government and the company would get Rs8,000 crore each, home minister P Chidambaram told reporters after a meeting of the Cabinet Committee on Economic Affairs.
Post disinvestment, the government's equity will fall to 69% from 85.82% currently.
The stake sale will take place in two tranches of 10% each, Chidambaram said, adding that each time 5% will be through further public offer (FPO) and another 5% through sale of government equity.
SAIL shares were trading at Rs 248.25, down by 2.67% on the BSE.
