New Delhi, Mar 06: The Financial Advisor to the Gail India public issue has recommended a price of Rs 195 per share against the floor price of Rs 185.
The government is expected to mop up about Rs 1,600 crores from the public offer of Gail.


The offer price is at a 4.6 per cent discount to the price of Gail scrip on the Bombay Stock Exchange (BSE). At the close of last trading session, Gail price was up 3.30 per cent from the last traded price on Thursday to touch Rs 214.70.

On the final offer price of Gail, retail investors will get an additional five per cent discount.

For the 8.45 crore shares of Gail on offer, bids were received for 71.4 crore shares. The public offer was oversubscribed 8.45 times.
The Gail issue saw strong retail participation. The individuals applied for 7.0 crore shares as against application for 46.9 crore shares by foreign institutional investors and 2.8 crore by Indian financial institutions.
The government proposes to divest a 10 per cent stake in Gail India Limited, bringing down its stake to 56 per cent.
The Gail issue saw strong retail participation. The individuals applied for 7.0 crore shares as against application for 46.9 crore shares by foreign institutional investors and 2.8 crore by Indian financial institutions.
The government proposes to divest a 10 per cent stake in Gail India Limited, bringing down its stake to 56 per cent.

Bureau Report