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    SAIL FPO rescheduled to launch in March 2011

    SAIL's follow-on public offer (FPO) is set to hit the markets in March 2011 as the company sorts its issues with bankers, reports CNBC-TV18 quoting sources.

    February 10, 2011 / 19:20 IST
       
       
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      SAIL's follow-on public offer (FPO) is set to hit the markets in March 2011 as the company sorts its issues with bankers, reports CNBC-TV18 quoting sources.


      Earlier, the issue was scheduled for launch on February 8, which was, however, postponed on account of an issue faced with bankers regarding the management of the FPO. SAIL FPO bankers had also consulted for Tata Steel FPO, the offering which garnered warm response from the investors after the roll out.


      Along with SAIL FPO, Oil and Natural Gas Corporation (ONGC), the state-owned oil explorer, too has plans to launch its FPO on March 15, 2011.

      SAIL is aiming to raise Rs 8000-crore through this FPO. It is going to be a profitable deal for the government as it owns more than 85 percent stake in the SAIL FPO.

      first published: Feb 10, 2011 05:13 pm

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