SAIL says no to fresh equity via FPO: Divestment Secy

As the government grapples with a huge revenue gap, there seems to be some action on the disinvestment front.

On one hand where CNBC-TV18 sources inform that the much delayed ONGC FPO might see the light of the day soon, the Divestment Secretary Haleem Khan said that the PSU steel major SAIL does not intend to raise any fresh equity via an follow-up public offering (FPO).
Keeping in view SAIL's need for capital expenditure and amount of surpluses available with them, Khan indicated that the company thought it would not be a good idea in the interest of the company to raise any fresh equity in these depressed conditions.
"The company has decided that they don