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Govt to sell up to 10% in SAIL via OFS, may fetch Rs 2,600 crore

On offer are 206.5 million shares, or 5% of company's stock, at a floor price of Rs 64 a share, with option to sell another 5% if issue is oversubscribed

Centre | Steel Authority of India | Stake sale

Nikunj Ohri  |  New Delhi 

A crane operator lifts up a finished steel coil at the storage and distribution facility of German steel maker ThyssenKrupp in Duisburg, Germany. Photo: Reuters
The issue will open for non-retail investors on January 14, and on January 15 for retail investors.

The government will sell up to 10 per cent of stake held in through an offer for sale, in a move that’s expected to fetch Rs 2,600 crore to the exchequer in divestment receipts.



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First Published: Wed, January 13 2021. 18:42 IST