Stocks

SAIL’s OFS subscribed 5.22 times

Our Bureau New Delhi | Updated on January 15, 2021

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.

Published on January 15, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like