Indian government offers 10% stake in Steel Authority of India Limited to investors

摘要

Singapore—The Indian government has offered a 10% stake, or 206.53 million shares, in the Steel Authority of India Limited or SAIL to investors, the steelmaker said Jan. 14. The offer for sale, or OFS, will take place over Jan. 14 and Jan.15 to non-retail and retail investors, respectively, SAIL said. The Indian government currently owns about 75% of the shares in SAIL, so the OFS will reduce its stake to about 65%. The remaining 25% is held by a range of stakeholders including financial institutions and the public.