98% of SAIL share auction covered

  • Reuters, Mumbai
  • |
  • Updated: Mar 22, 2013 04:10 IST

An auction of a 5.85% stake in state-run Steel Authority of India Ltd was nearly fully covered on Friday, provisional data from the National Stock Exchange showed.

The Indian government was selling 240.4 million shares in the company at a minimum bid price of Rs 63 per share. At 3.30pm, the single-day auction had received bids for 235.3 million shares, or 98% of the shares on offer, at an indicative weighted average price of Rs 63.07 per share.

Final bid numbers will be available later on Friday.

 

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