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SAIL shares see sharp fall over govt plans to sell stake

By - AlShorts Web Desk

Shares of Steel Authority of India (SAIL) fell nearly 10% on 14 January over government plans to sell upto 10% equity in the steel maker. The government has decided to sell 5% equity with the option to sell further equity of 5% in case of an over-subscription. The floor price of the proposed share sale has been set about 20% lower than the last closing price.

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