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SAIL OFS starts today; government to divest up to 10%

Updated : January 14, 2021 06:24 AM IST

The offer for sale (OFS) will open on Thursday (January 14) for non-retail investors and for retail investors on January 15.

The Central government has decided to divest 5 percent equity in Steel Authority of India Limited (SAIL) while keeping the greenshoe option of 5 percent.

The offer for sale (OFS) will open on Thursday (January 14) for non-retail investors and for retail investors on January 15.

The floor price of the offer will be Rs 64 per equity share, according to a regulatory filing.

The government holds 75 percent stake in SAIL. It had last sold 5 percent stake in the steel CPSE in December 2014.

The total OFS size has been calculated at 20.6 crore shares of the 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 the government is expected to mobilise Rs 2,664 crore.

This may help to bridge the government's ambitious target of Rs 2.1 lakh crore through divestment in the current financial year.

(With inputs from PTI)

SAIL OFS starts today; government to divest up to 10%

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