The OFS for divestment of 5% of Government of India equity in SAIL was successfully concluded today. The issue was oversubscribed more than two times. In addition retail investors were given 10% allocation and this category was also hugely oversubscribed more than 2.5 times, a record for any retail participation in any OFS. In order to facilitate retail investors, a 5% price discount was offered to them. This OFS will fetch ₹ 1715 crores approximately for the Govt.

With this divestment the Government of India share in SAIL would come down to 75% and the Company has become compliant to the Public Shareholding norms of 25% for listed companies.

Equity divestment leads to reduced government share and compliance with public shareholding norms after oversubscribed offer. Divestment of five percent Government equity in SAIL was completed via an Offer For Sale that was more than twice subscribed; the ten percent retail allocation was oversubscribed by over two and a half times and retail investors received a five percent price discount. The Government's stake falls to seventy five percent, effecting compliance with the 25% public shareholding requirement for listed companies.