The Government of India is considering a proposal to sell 10.82% stake in India's largest steel producing company, Steel Authority of India.

Out of its shareholding of 85.82%, the Government has decided to sell part of paid up equity in SAIL through 'Offer for Sale of Shares through Stock Exchange Mechanism' as per SEBI Rules and Regulations.

As per recent quarterly filing, FIIs' shareholding decreased to 3.15% as at June 30, 2012 from 3.47% as at March 31, 2012, while the mutual funds' shareholding fell to 0.70% as at June 30, 2012 from 0.71% as at March 31, 2012.

Source - IRIS

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