The Cabinet Committee on Economic Affairs (CCEA) has accorded approval to the sale of 10.82 per cent of its stake in SAIL.
The share sale process, proposed to be conducted through auction route or offer for sale, is expected to fetch over Rs 4,000 crore to the government. The proposal, mooted by the department of disinvestment, was deferred in the recent meeting of CCEA as Beni Prasad Verma, Steel Minister and DRS Chaudhary, Steel Secretary were not in town. The government currently holds 85.82 per cent stake in SAIL.