OFS for Divestment of 5% of Government of India Equity in Sail Successfully Concluded; Issue Oversubscribed more than two Times;. To Fetch Rs.1715 crores Approximately for the Government

The OFS for divestment of 5% of Government of India equity in SAIL was successfully concluded today. The issue was oversubscribed more than two times. In addition retail investors were given 10% allocation and this category was also hugely oversubscribed more than 2.5 times, a record for any retail participation in any OFS. In order to facilitate retail investors, a 5% price discount was offered to them. This OFS will fetch Rs.1715 crores approximately for the Govt.

With this divestment the Government of India share in SAIL would come down to 75% and the Company has become compliant to the Public Shareholding norms of 25% for listed companies.