HindustanTimes Thu,17 Apr 2014

98% of SAIL share auction covered

Reuters  Mumbai, March 22, 2013
First Published: 16:04 IST(22/3/2013) | Last Updated: 16:10 IST(22/3/2013)

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.

Copyright © 2014 HT Media Limited. All Rights Reserved