State-owned steel major SAIL 's issue has been subscribed about 97.90% of the total stake that is on offer for sale at 15:30 hours, amounting to bids around worth Rs 1,482 crore.
The OFS of SAIL shares, which started at 9.15 am, had received total bids for 23.53 crore shares at the floor price of Rs 63 per share till 15:30 hours.
The OFS got 19.06% bids in the last 15 minutes of trade.
The company scrip, at Rs 63.45 on the BSE at 15:00 hours, was down 0.70% from its previous close.
The government, which is selling its 5.82% stake in the company, would garner about Rs 1,514 crore from the stake sale, if it gets fully subscribed.
The Empowered Group of Ministers (EGoM) on disinvestment, headed by Finance Minister P Chidambaram, yesterday decided on pricing of 24.03 crore share or 5.82% stake sale of the country's largest steel producer through the OFS route.