Indian government raises $279 million from steel company sell-down

The sale of a 5.8% stake in Steel Authority of India enables the government to meet its revised divestment target for the current fiscal year, but only with a little help from other state-owned entities.

The Indian government did manage to raise the minimum Rs15.14 billion ($279 million) targeted from its auction-style sell-down in Steel Authority of India (known as Sail) last Friday, but it wasn’t particularly smooth sailing.

¬ Haymarket Media Limited. All rights reserved.

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