Govt gets Rs 1,516.17 cr from selling 5.82% stake in SAIL
The government has garnered Rs 1,516.17 crore from selling its 5.82 per cent stake through the offer for sale (OFS) route in Steel Authority of India (SAIL) on March 22.
April 03, 2013 / 09:28 IST
The government has garnered Rs 1,516.17 crore from selling its 5.82 per cent stake through the offer for sale (OFS) route in Steel Authority of India (SAIL) on March 22.
In an exchange filing today, the state-owned steel maker said that following the transaction in both BSE and National Stock Exchange, the government stake in the firm has come down to 80 per cent from 85.82 per cent earlier.Also read: Domestic demand will pick up post sluggish phase says SAILSAIL said government has sold 24,03,96,572 shares for a total consideration of Rs 15,16,17,27,862 crore. The sale thus came at a price of Rs 63.06 per share.The government had 3,54,46,90,285 shares in the company before the OFS. Now, it has 3,30,42,93,713 shares in SAIL.Shares of the company today settled at Rs 63.30 apiece, up 0.96 per cent over the previous closing in the BSE. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
