Steel Authority of Indian (SAIL) has announced the OFS of 10% of total issued equity share capital. SAIL announced OFS with base issue of 5 % share capital along with option to sell addition of 5%.
Promoter of the company “President of India” coming up with OFS of 5% of total issued equity share capital, promoter has an option to sell additional 5% so total OFS could be 10% of equity share capital.
Company fixed OFS cutoff date for Non-retail investor 14th Jan 2021 and 15th Jan 2021 for Retail investors. 12.5% of OFS has been reserved for Retail investors and 87.5% for Non-retail Investors. No separate discount will be given to retail investors. Company has fixed the floor price of Rs 64 for OFS which is discounted to CMP of 13.64%.
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