Steel Authority Of India Ltd OFS (Offer For Sale) Price, Settlement and Others Details

Steel Authority Of India Ltd proposes to sell up to ( Offer For Sale -OFS) 206,526,264 equity shares of the face value of Rs. 10/- each ("Base Offer Size") on January 14, 2021 ("T day") (for non-Retail Investors only) and on January 15, 2021 ("T+l day") (for Retail Investors and for non-Retail Investors who choose to carry forward their un-allotted bids) with an option to additionally sell up to 206,526,264 equity shares of the Company (the "Oversubscription Option" and in the event the Oversubscription Option is exercised, the equity shares forming part of the Base Offer Size and the Oversubscription Option will, collectively, hereinafter be referred to as "Offer Shares". In case the Oversubscription Option is not exercised, the equity shares of the Company forming part of the Base Offer Size will hereinafter be referred to as "Offer Shares") through a separate, designated window of the BSE Limited (the "BSE") and the National Stock Exchange of India Limited (the "NSE", and together with the BSE, the "Stock Exchanges"), collectively representing ofthe total paid up equity share capital ofthe Company as on January 13, 2021 (held in dematerialized form in one or more demat accounts with the relevant depository participant), in accordance with in accordance with the OFS Guidelines and the applicable notices and circulars issued by the BSE and NSE, from time to time, in this regard (such offer for sale hereinafter referred to as the "Offer").

Such number of Equity Shares as would be equivalent to up to 5% of the Equity Shares sold pursuant to the Offer (over and above the Offer Shares) may be offered to eligible and willing employees of the Company subsequent to completion of the Offer, in SEBI circular CIR/MRD/DP/65/2017 dated June 27, 2017. The employees will be eligible to apply for Equity Shares up to Rs. 500,000. However, any bids by eligible employees will be considered for allocation, in the first instance, for an amount up to Rs. 200,000.

Provided that in the event of under-subscription in the employee portion, the unsubscribed portion may be allotted on a proportionate basis, for a value in excess of Rs. 200,000, subject to the total allotment to an employee not exceeding Rs. 500,000.

The particulars of the above offer for sale are attached to this notice.

The floor price for the Offer shall be Rs. 64 ( Rupees Sixty Four Only) per Equity Share.


    steel authority of india ofs

    Steel Authority Of India Ltd OFS (Offer For Sale) Detail


    Security Name STEEL AUTHORITY OF INDIA LIMITED
    Security Symbol SAIL
    Security Code 500113
    ISIN INE114A01011
    Offer Size 20,65,26,264,
    Base Offer Size – 20,65,26,264 shares and Additional Option to sell up to 20,65,26,264 shares (Oversubscription Option). Total Shares (Base Size + Green Shoe) 41,30,52,528 shares. The seller shall intimate the stock exchanges of its intention to exercise the oversubscription after trading hours (i.e. on or before 5 pm) on 14th January, 2021
    Retail Offer Size 12.50 % of Issue Size reserved for Retail
    Reservation to Retail Investors 2,58,15,783

    Base Offer Size 2,58,15,783 shares and Oversubscription Option of 2,58,15,783 shares. Total Shares (Base Size + Green Shoe) 5,16,31,566 shares.
    Non-Retail Offer Size 18,07,10,481 shares
    Base Offer Size 18,07,10,481 shares and Oversubscription Option of 18,07,10,481 shares. Total Shares (Base Size + Green Shoe) 41,30,52,528 shares.
    Market Lot 1 share
    Tick Size Rs 0.05
    Face Value Rs 10/-
    Floor Price Rs 64.0/-
    Allocation Methodology Price Priority Method
    Bid Opening Date (IC/MF/OTH/NII) 14th January’2021
    Bid Closing Date ( IC/MF/OTH/NII) 14th January’2021
    Bid Opening Date ( RI/RIC )@ 15th January’2021
    Bid Closing Date (RI/RIC) @ 15th January’2021

    Steel Authority Of India Ltd OFS Session Details


    LIVE OFS SESSION Date Day FROM TO
    Bid Entry Period (IC/MF/OTH/NII) 14th January’2021 T 9.15 AM 3.30 P.M.
    Bid Modification and Cancellation 14th January’2021 T 9.15 AM 3.30 P.M.
    Give up/Take up 15th January’2021 T + 1* 10.00 AM 1.00 PM
    Bid Entry Period (RI/RIC) @ 15th January’2021 T + 1 9.15 AM 3.30 P.M.
    Bid Modification and Cancellation 15th January’2021 T + 1 9.15 AM 3.30 P.M.
    Give up/Take up 18th January’2021 T + 2* 10.00 AM 1.00 PM

    Steel Authority Of India Ltd Categories for Bidding


    Investor Type Bidding
    Category
    Margin Type Collateral Type for Bidding Bid Day Settlement Day
    Retail Investor
    IND, HUF, NRI
    (Bid value up to Rs. 2 Lacs)
    RI & RIC Upfront 100% Margin Cash & Cash Equivalents T + 1 T + 3
    Retail Investors – IND, HUF, NRI
    (Bid value above Rs. 2 Lacs)
    NII Upfront 100% Margin Cash T T + 1
    T + 1* T + 2
    Non-Institutional Investor NII Upfront 100% Margin Cash T T + 1
    T + 1* T + 2
    Institutional Investor MF, IC, OTHS Upfront 100% Margin Cash T T + 1
    T + 1* T + 2
    Institutional Investor MF, IC, OTHS 0% Margin Cash T T + 2
    T + 1* T + 3

    Steel Authority Of India Ltd Settlements Details


    T Day’s Bidding
    Settlement Type OFS
    Settlement Number 2021044
    Non-Retail
    Pay-in of funds (For 100% margin bids). (T+1 Day) 15th January’2021 by 10.00 A.M.
    Pay-out of Funds / Securities (For 100% margin bids). (T+1 Day) 15th January’2021 by 12:30 P.M.
    Settlement Type OFST2
    Pay in funds (For 0% margin bids). (T+2 Day) 18th January’2021 by 10.00 A.M.
    Pay out of Funds / Securities ( For 0% margin bids) (T+2 Day) 18th January’2021 by 12:30 P.M.
    T+1 Day’s Bidding
    Settlement Type OFS
    Settlement Number 2021045
    Un-allocated carried forward bids of T day and Retail bids.
    Pay-in of funds (For 100% margin bids). (T+2 Day) 18th January’2021 by 10.00 A.M.
    Pay-out of Funds / Securities (For 100% margin bids). (T+2 Day) 18th January’2021 by 12:30 P.M.
    Settlement Type OFST2
    Pay in funds (For 0% margin bids and Retail bids). (T+3 Day) 19th January’2021 by 10.00 A.M.
    Pay out of Funds / Securities (For 0% margin bids and retail bids) (T+3 Day) 19th January’2021 by 12:30 P.M.

    Please Note:

    1. Retail Investor shall mean an individual investor who places bids for shares of total value of not more than Rs.2 lakhs
    2. Retail Investors have an Option to bid in “RI” “RIC” and/or “NII” category. Retail Investors can bid in “RI” and “RIC” Category upto (i.e. less or equal to) Rs 2 lacs Retail Investors can bid in NII category only above Rs. 2 Lacs
    3. Multiple bidding will be allowed.
    4. Additionally, Retail Bids bidding in NII category will NOT be allowed below Rs. 2 lacs
    5. Retail Investors bidding in NII category will not be eligible for discount (if any) offered by Seller(s).
    6. If the cumulative bid value of a retail investor across Exchanges in “RI” “RIC” and “NII” category exceeds Rs.2 lacs, the bids in the “RI” and” RIC” category shall become ineligible
    7. If the cumulative bid value of a retail investor in “RI” and “RIC” across Exchanges exceeds Rs. 2 Lacs, all such bids will not be eligible for allocation
    8. To place Retail Investor bids at Cut Off Price, Users are required to select RIC category
    9. Cut-off price will be determined based on the bids received on T Day
    10. Margin will be blocked on Cut-off price of Non-Retail Investors
    11. There is no change in rule and mechanism for bidding for Other Categories - NII, MF, IC, OTHS
    12. The un-allocated bids of T day will be available for carry forward in the Un-allocated Bid Book on T+1 day

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