Government Exercises Greenshoe Option as SAIL OFS Over Subscribed

Indian government's sale of its 5% shareholding in public sector steel maker Steel Authority of India Ltd through the offer for sale route was over
Government Exercises Greenshoe Option as SAIL OFS Over Subscribed
SAIL OFSThe Telegraph

Indian government's sale of its 5% shareholding in public sector steel maker Steel Authority of India Ltd through the offer for sale route was over subscribed 3.6 times on the first day of its opening on January 14. The government decided to exercise the greenshoe option of another 20.65 crore shares or 5% of the total equity. Department of Investment and Public Asset Management DIPAM Secretary Mr Tuhin Kanta Pandey tweeted "Offer for Sale of Govt shares in SAIL got great response on day one. Issue subscribed 4.14 times of base size at a clearing price above the floor price by non retail investors. Govt has decided to exercise the green shoe option. Retail investors get chance to bid tomorrow.”

Stock Exchange data showed that over 74.74 crore shares were sought by non retail investors at the close of trading hours

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