OFS for Divestment of 5% of Government of India Equity in Sail Successfully Concluded; Issue Oversubscribed more than two Times;. To Fetch ₹ 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 ₹ 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.