The Union government earned Rs 1,516.17 crore by selling a 5.82 per cent stake through the offer for sale route in Steel Authority of India (SAIL) on March 22. In an exchange filing, the State-owned steel maker said that following the transaction on both BSE and the National Stock Exchange, the government’s stake in the firm has come down to 80 per cent from 85.82 per cent earlier.
SAIL said the government sold 240,396,572 shares for a total consideration of Rs.1,516.17 crore, or at Rs.63.06 per share.