In the first phase the government is proposing to off load 8-10% of its equity in the company. In the the second offering, it would divest 5% equity and the company would issue fresh shares to the extent of 5% of its equity. At the last closing market price of Rs 300 a share, the government could raise nearly Rs 18,000 crore while the company would get about Rs 6,000 crore for 5% fresh equity, ass