The central government has decided to sell up to 20.65 crore shares or 5% of total equity of Steel Authority of India Limited (SAIL) through an Offer for Sale. Additionally, the government also has an option to sell up to 20.65 crore share of SAIL. With this, the government would divest 5% equity in the firm with a 5% greenshoe option.
The floor price has been set at ₹64 per share. The OFS for non-retail investors opens on Thursday. While for retail investors, it will start on Friday.
The total OFS size has been calculated at 206,526,264 equity shares of the face value of ₹10 each (Base Offer Size), with an option to additionally sell up to 206,526,264 equity shares of the firm (over-subscription option), according to ministry of steel. With this, the total OFS size stands at 413,052,528 shares, which is calculated at ₹2,664 crore.
What is an offer for sale (OFS)?
An Offer for Sale is a method by which promoters of companies sell their shares and reduce their holdings.
How to apply:-
- Go to 5paisa.com/ofs
- Enter the quantity and the bid amount for your bid.
- Press Place Order
- Required margin will be blocked from your available margin. Hence, please ensure you have sufficient margin available.
NOTE: Once the bid is placed it cannot be modified, please ensure the details are correct before submitting.