SAIL - Updates

Steel Authority of India Ltd (SAIL) has informed BSE that Ministry of Steel has communicated to the Company 'in principle' approval of Department of Disinvestment for further public offer equivalent to 10% of existing paid-up equity capital by SAIL as well as disinvestment of equivalent size of equity held by the Government of India in two discrete tranches, each containing 5% of FPO + 5% offer for sale. This is subject to fulfillment of certain conditions including obtaining approval of Cabinet Committee on Economic Affairs (CCEA). After approval of CCEA, the timing for the above offers would be decided considering, inter-alia, SEBI guidelines and prevailing market considerations and also fulfillment of conditions, if any, stipulated in the CCEA approval.