SAIL share falls nearly 10% amid govt stake sale through OFS
SAIL OFS for non-retail investors opened on January 14, while for retail investors, it will start on January 15. A minimum of 12.5 per cent of offer shares will be reserved for retail investors, and 25 per cent for mutual funds and insurance companies
BusinessToday.In | January 14, 2021 | Updated 14:58 IST
The floor price of offer has been fixed at Rs 64 per share, at a discount of 14.32 per cent as compared to Wednesday s closing price of Rs 74.70
Shares of Steel Authority of India Ltd (SAIL) were trading almost 10% lower in Thursday s session as government will sell up to 10 per cent stake in PSU through an offer for sale (OFS), which could fetch over Rs 2,600 crore for the exchequer.