Rashtriya Ispat Nigam ltd (RINl) has filed a draft prospectus with market regulator Sebi for an initial public offer (IPO) through which the Government will sell 10 per cent of its stake in the company.
The Government will offload 48,89,84,620 shares through an offer for sale, of which 35 per cent will be reserved for retail investors and 50 per cent for qualified institutional buyers.