Steel Authority of India Plans FPO By March

sailSAIL ( Steel Authority of India ) on Thursday mentioned it will try to introduce the Rs 8,000-cr follow-on public offer (FPO) just before the financial-end though submitting of prospectus within Feb . appears to be a challenging proposition.

“We will undoubtedly endeavor to start the FPO before the conclusion of the present financial. Submitting the red herring prospectus, nevertheless, within February appears to be a tall target,” Steel Authority of India Chairman, Mr C S Verma, informed PTI.

“We will endeavor it based upon the market situation. We have to observe which are some other issues that are reaching the market. We will need to make review of the market conditions,” Mr Verma said.

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