SAIL FPO Is Planned To Start By March End Of 2011

SAIL FPO Is Planned To Start By March End Of 2011Decision on merchant-bankers for that upcoming FPO offer of SAIL (Steel Authority of India ) will be obtained early next week, The FPO is planned to start by March end of 2011. The Cabinet Committee on Economic Affairs has accepted 10per cent additional public offer through SAIL as well as 10percent of offer for sale through Govt of India in 2 discrete tranches.

The 1st will include new issue of 5percent pre issue paid-up equity of the firm and gives for sale of 5percent equity through govt. The 2nd will also be consist of 5percent of FPO as well as 5percent of offer for sale.

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