Govt gets Rs 1,516.17 cr from selling 5.82% stake in SAIL

Govt gets Rs 1,516.17 cr from selling 5.82% stake in SAIL New Delhi: The government has garnered Rs 1,516.17 crore from selling its 5.82 percent stake through the offer for sale (OFS) route in Steel Authority of India (SAIL) on March 22.

In an exchange filing Tuesday, 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 percent from 85.82 percent earlier.

SAIL 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 Tuesday settled at Rs 63.30 apiece, up 0.96 percent over the previous closing in the BSE.

PTI