SAIL stake sale fetches Rs1,516.17 crore for government
02 Apr 2013
The sale of 5.82 per cent equity capital of state-run Steel Authority of India Ltd (SAIL) has fetched Rs1,516.17 crore for the government, with the offer for sale (OFS) at Rs63.06 a share being fully subscribed on 22 March.
The offer for sale, through a separate window of the stock exchange, was expected to raise a minimum of Rs1,514.45 crore at the base price of Rs63 per share.
Following the transaction in both the BSE and the NSE, the government's stake in the steel maker has come down to 80 per cent from 85.82 per cent earlier, SAIL said in a filing with the stock exchanges.
The government has sold 24,03,96,572 shares of SAIL, at a price of Rs63.06 per share, for a total consideration of Rs15,16,17,27,862.
The government's equity holding in SAIL now stands reduced to 3,30,42,93,713 shares from 3,54,46,90,285 shares before the OFS.
Shares of the company today settled at Rs63.30 apiece, up 0.96 per cent over the previous closing on the BSE.
Shares of the company closed at Rs63.30 today, up 0.96 per cent over the previous closing on the BSE.