SAIL share sale fetches government Rs 1,500 cr

The government managed to garner over Rs 1,500 crore from the truncated divestment in the nation’s largest steel producer SAIL that barely managed to scrape through.

The Offer For Sale (OFS) received bids for 24.13 crore shares against 24.03 crore shares on offer, as per the data available of the BSE.

The indicative price, which is the weighted average price of all valid bids, was Rs 63.07 a share. At this price, the government would garner over Rs 1,500 crore.

The government had fixed the floor price for the issue at Rs 63, a 1.41 per cent discount to Thursday’s close. Shares of SAIL on Friday closed at Rs 63.40 on the BSE.

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