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The Offer for Sale (OFS) of Steel Authority of India Ltd (SAIL) has witnessed strong interest from retail as well as non-retail investors. “Retail portion was subscribed about 5.22 times,” DIPAM Secretary Tuhin K Pandey said in a tweet. On Thursday, issue was subscribed 4.14 times of base size at a clearing price above the floor price by non-retail investors. The Government has already decided to exercise green shoe option, which means 10 per cent shares will be offloaded. Government kept floor price at ₹64 and at this price Government will get over ₹2,600 crore. The Centre had proposed OFS of 20.6 crore shares of face value of ₹10 each (base offer size), with an option to additionally sell up to 20.6 crore equity shares. The stock of SAIL 4.4 per cent higher at ₹70.20 on the BSE.
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