The divestment ministry is expected to announce the floor price for GAIL public offering of 8.45 crore shares on February 25.

According to sources associated with the process, the floor price for public offer of GAIL, would be announced on February 25, while that of Dredging Corporation of India is expected to be decided by Tuesday.

The GAIL public offer for divestment of 10 per cent Government equity is scheduled to open on February 27.

Sources further said that the final offer price for IPCL public float would be announced by February 29 or March 1 after the issue closes on February 27.

The floor price for IPCL has been fixed at Rs 170 per share.

"The offer price for IPCL and CMC would be finalised on February 29 or March 1," sources pointed out.

The offer size for IPCL issue has been enhanced to 7.18 crore shares, after Reliance Petroinvestments Ltd declined Government's offer to purchase additional five per equity in IPCL to hike its stake to crucial 51 per cent mark.

Reliance was offered a higher of Rs 195 per share or final offer price, established through the book-building route, to increase its stake in IPCL by an additional 5 per cent, but Reliance declined the offer saying a wider distribution of shareholding would be in greater interest of the company.