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Issue of Equity

26th Apr 2010 07:09

RNS Number : 7581K
Steel Authority Of India Ld
26 April 2010
 

No.CA-17(54)/10 26th April, 2010 The Manager Company Announcement Office (CAO) London Stock Exchange, 10 Paternoster Square London EC4M 7LS

Sub:- Issue of Additional Equity by Steel Authority of India Limited & Disinvestment of Government of India’s share in SAIL

Dear Sir, It is hereby informed that Government of India has approved the following: I) 10% Further Public Offer (FPO) by SAIL and 10% of offer for sale by Government of India in two discrete tranches – the first comprising 5% of FPO viz. fresh issue of 5% pre-issue paid up equity of the company and offer for sale of 5% equity of SAIL out of Government’s shareholding and the second also comprising 5% of FPO and 5% of offer for sale; to be issued at appropriate times in consideration of SEBI guidelines and prevailing market conditions. The first tranche comprising the 5% of FPO viz. fresh issue of 5% pre-issue paid up equity of the company and the offer for sale of 5% equity of SAIL out of Government’s shareholding will be carried out in the domestic market as per SEBI regulations.

II) Reservation for employees and 5% price concession for retail investors.
Yours faithfully,  (Devinder Kumar) GM (Finance) & Secretar

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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