Sail Ofs

Earlier this week, the government had proposed OFS of 20.6 crore shares of face value of Rs 10 each (base offer size), with an option to additionally sell up to 20.6 crore equity shares.

SAIL OFS sails through; but FY14 divestment aim looks tough

Looking at the fate of some recent OFS such as of SAIL and NALCO, it is clear that government may find it difficult to achieve its FY14 divestment target of Rs 40,000 crore, reports Aakansha Sethi of CNBC-TV18.

SAIL's share auction covered 98%

SAIL's offer-for-sale issue was nearly fully subscribed wherein a single-day auction received bids for 235.3 million shares, or 98 percent of the shares on offer, at an indicative weighted average price of 63.07 rupees per share.

Expect SAIL's earnings to fall 16% in FY14: Angel Broking

Bhavesh Chauhan, senior analyst-metals, Angel Broking advised investors to avoid SAIL OFS. He believes even after a decline in stock price over the last three months, it is quite expensive.

SAIL marginally down after OFS issue opens

SAIL shares are marginally down afterits offer-for-sale (OFS) issue opened at 9:15 am today. The floor price of the issue is fixed at Rs 63/share and the government will divest over 5 percent stake in the company to mop up around Rs 1,500 crore. The remaining 5 percent will be auctioned in FY14.

EGoM fixes Rs 63/share floor price for SAIL's OFS issue

The Empowered Group of Ministers (EGoM) have met again to reconsider floor price for SAIL‘s offer-for-sale offer as the steel ministry is not in favour of SAIL shares to be auctioned below Rs 65/share. Shares of the company closed the day at Rs 63.90, down around 2 percent.

Why has govt trimmed size of SAIL share offer?

SAIL‘s offer-for-sale (OFS) issue will hit the market tomorrow, and surprisingly the government which was to offload over 10 percent in the company, has now decided to auction smaller stake and is keen to sell the remaining portion in FY14.