SAIL FPO likely in first week of April: Sources

The fluctuating markets may further delay the launch of state-run SAIL's follow-on public offer. The issue, which was scheduled to release this March, may now be launched only in the first week of April, reports CNBC TV18's Aakansha Sethi quoting sources.

The launch may be postponed due to procedural delays, mentioned sources. The company is yet to sort its issues with merchant bankers and the final call will be taken in a meeting with them, which is scheduled this week in order to confirm the launch timing. Earlier, the offer was scheduled to release in February, which was, however, postponed to launch in mid-March on account of an issue faced with bankers regarding the management of the FPO.
The company also made it clear that it doesn