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Government will sell 5% stake in SAIL in the current fiscal, Finance Minister Arun Jaitley said today.
"5% disinvestment (of SAIL) is tentatively scheduled for completion in the current financial year," Jaitley said in a written reply in the Rajya Sabha.
At the current market price of Rs 88.95, a 5% stake sale could fetch over Rs 1,800 crore to the exchequer.
Government holds 80% stake in SAIL.
The Cabinet had in July 2012 approved a 10.82% stake sale in SAIL. Accordingly, the first tranche of disinvestment of 5.82% was completed in March 2013.
The interim budget had proposed to raise Rs 36,925 crore from stake sale in public sector undertakings. The full budget for 2014-15 to be tabled in Lok Sabha on July 10 is likely to revise upwards the target.
So far this year the stock markets have rallied over 21%.
