SAIL’s OFS is part of the government’s disinvestment program.
The government is selling 20.6 crore shares or five per cent stake in SAIL through OFS for Rs 10 face value.
According to provisional data from the stock exchanges, about 522.89 percent shares have been subscribed for the total size of the issue. The government is selling 20.6 crore shares or five per cent stake in SAIL through OFS of Rs 10 face value. The government also has the option to sell 20.6 crore additional shares.
OFS total size reached 41.3 million shares
The total size of OFS has reached 41.3 crore shares. In such a situation, the government is expected to get Rs 2,664 crore at the minimum price of Rs 64 per share. The exchange data shows that bids for the shares have been made at a nominal value of Rs 65.75 per share. SAIL shares closed at Rs 70.20, a loss of 4.39 per cent on the BSE.Also read- Gold-Silver Rate: Gold becomes costlier, silver also shines; know new rates of 10 grams of gold
Target to raise Rs 2.1 lakh crore from disinvestment
SAIL’s OFS is part of the government’s disinvestment program. The government has set a target of raising Rs 2.1 lakh crore from disinvestment in the current financial year. So far, the government has been able to raise only Rs 28,298.26 crore from the disinvestment. Of this, Rs 14,453.77 crore has been received as dividend from public sector companies. Of the remaining Rs 13,844.49 crore, Rs 1,065.37 crore has been received from the sale of shares under NTPC’s share buyback.
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IRFC’s IPO will open on January 18
The IPO of the Indian Railway Finance Corporation (IRFC), which comes under the Ministry of Railways, is going to open on 18 January. The price range for the IPO of IRFC is Rs 25-26 per share. The government is expected to get Rs 1,544 crore at the upper level of the price range.