Know more Modi government will sell its stake in another government company

New delhi date. 09 February 2020, Sunday

The central government is planning to sell its stake in another government company. The government plans to raise Rs 1,000 crore by selling five per cent stake in the Steel Authority of India. For this, Road Saw will also be done to attract investors in Singapore and Hong Kong. However, Hong Kong's road show could be canceled due to the Corona virus.

Currently, the government owns 75% of the sails. Earlier in 2014, the government sold five per cent of its stake. This time, the government will offer an open offer to sell another 5 per cent.

The government has set a target of collecting Rs 65,000 crore through disinvestment in various government companies. To achieve this, the government will try to sell five per cent stake in Sail this year. So far, the government has managed to raise Rs 34,000 crore through disinvestment. The government also plans to raise Rs 200 crore by selling 10 per cent stake from Garden Rich Ship Builders Limited.