|Opening of Offer for Sale for Steel Authority Of India Ltd (the”Company”)
Trading and Custodian Members of the Exchange are requested to refer to notice nos. 20190118-43 dated January 18, 2019 and 20200701-27 dated July 01,2020, detailing Revised Guidelines for Bidding in Offer for Sale (OFS) Segment. The above guidelines were issued by the Exchange with reference to Securities and Exchange Board of India (SEBI) circular no. SEBI/HO/MRD/DOPI/CIR/P/2018/159 dated December 28, 2018 regarding “Review of Offer for Sale (OFS) of Shares through Stock Exchange Mechanism”.
All Market Participants are hereby informed that The President Of India, acting through and represented by the Ministry of Steel, Government of India, (the “Promoter”), proposes proposes to sell up to 206,526,264 equity shares ofthe face value ofRs. 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.
Market participants are further requested to note that the Exchange would disseminate the details of this Offer for Sale on BSE Website – www.bseindia.com.
Listing Sales & Ops
January 13, 2021