The government is planning to offload up to 10 per cent stake in Steel Authority of India (SAIL) and the offer for sale (OFS) will open on January 14, 2021 for non-retail investors. For retail investors it will open on January 15, 2021. Government would divest 5% equity with a 5% green shoe option. The government holds 75 per cent stake in SAIL.
The floor price for SAIL OFS has been set at Rs 64 per equity share of the firm. The total OFS size has been calculated at 20.6 crore shares of face value of Rs 10 each (base offer size), with an option to additionally sell up to 20.6 crore equity shares. With this, the total OFS goes up to 41.3 crore shares and government is expected to mobilise Rs 2,664 crore.
SAIL is India’s largest steel producing company. The company is among the five Maharatnas of the country’s Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
Company Name | CMP |
---|---|
Tata Steel | 174.15 |
JSW Steel | 941.30 |
SAIL | 142.90 |
Jindal Stainless | 806.30 |
Jindal Saw | 538.70 |
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