The Hindu Business Line : GAIL India share floor price fixed at Rs 185

THE Government has fixed a floor price of Rs 185 per share and will give a five per cent discount to retail investors for the proposed public offer for sale of its 10 per cent equity in the gas transmission company GAIL (India) Ltd.

The Disinvestment Secretary, Mr Dhirendra Singh, said that retail investors would be eligible for a discount of five per cent over the price offered to institutional bidders.

The GAIL public offer for selling 8.45 crore shares will open on February 27 and close on March 5.

GAIL stock prices closed at Rs 196 per share on Wednesday on the BSE down by five per cent over yesterday's close.

The proposed public offer in GAIL will bring down the Government's stake in the company to 56 per cent.

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GAIL India share floor price fixed at Rs 185