SAIL slumps 5% amid report Govt could sell 5% stake by March 2020

Lincoln Wylie

Shares of state-owned Metal Authority of India Ltd (SAIL) slumped 4.8 for every cent to Rs 46.three on the BSE on Monday amid stories that the governing administration could off-load five for every cent of its stake in the company, via an provide for sale, which could fetch about Rs 1,000 crore to the exchequer.

“We are searching at a five for every cent stake sale by way of provide for sale (OFS), but we will assess investor demand from customers in the roadshows… Officials from the Division of Investment and General public Asset Management (DIPAM) and metal ministry are setting up roadshows in Singapore and Hong Kong,” news agency PTI described, quoting an unnamed governing administration formal. Read through REPORT In this article

The Hong Kong roadshow, nevertheless, may well be named off owing to coronavirus outbreak, the report additional.

In accordance to the sharehoding sample of the company,

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