SAIL FPO by year end on

Sep 22, 2010 |

Correspondent

Enthused by buoyant market conditions, the government on Tuesday said it may advance SAIL share sale and launch the FPO by December 2010, instead of earlier planned January-February 2011. SAIL’s Follow-on Public Offer (FPO) is expected to raise `8,000 crore in the first phase. “Market
conditions are buoyant. If it remains like this, we may consider advancing SAIL FPO in the calendar year 2010,” the steel
secretary, Mr Pradeep Kumar Misra, said on the sidelines of Ficci steel summit. SAIL has already shortlisted six bankers, including JP Morgan and Deutsche Bank, for its FPO.

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