India in limelight with Sail, PFC, REC stake sales

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By Rashmi Kumar
04 Sep 2014

India equity markets look set for a busy end of year thanks to the government laying the groundwork for divesting 5% stakes in multiple state-owned companies. Its targets this week include Steel Authority of India Ltd (Sail), Power Finance Corp (PFC) and Rural Electrification Corp (REC).

The Indian government has started holding roadshows to seek investors’ interest for the sale of shares in Sail, even though the meetings are being described as non-deal by bankers.

Sail, one of India’s biggest steel-makers, is 80% owned by the government. Based on the current market capitalisation of ...

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