The IPO of state-owned steel maker RINL is scheduled to hit the markets in the current fiscal, and the Cabinet has already accorded its approval for the stake sale.
The government on Monday said it will kickstart its ambitious Rs 30,000 crore (Rs 300 billion) divestment programme with stake sale in RINL this month.
If the proposal gets Cabinet clearance, the disinvestment is likely to follow the initial public offering of Rashtriya Ispat Nigam Ltd, for which the prospectus has already been filed with the Securities and Exchange Board of India.
A senior official from the Department of Disinvestment told Business Standard it was decided in a meeting on Thursday that the fresh date for RINL's IPO would be in the third or fourth week of July.
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