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Published on 14/01/2021 4:18:10 PM | Source: Angel Broking Ltd

Steel Authority of Indian has announced the OFS of 10% of total issued equity share capital By Yash Gupta, Angel Broking

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Below are Views On Steel Authority of Indian has announced the OFS of 10% of total issued equity share capital By Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd   
 
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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