Mumbai: Gail India Ltd''s shares have been priced at Rs 195 per share. The offer price, reached through the book-building process, is at a 9.2 per cent discount to the share''s Friday close of Rs 214.70, but at a 5.4 per cent premium to its minimum bid price of Rs 185.

Retail investors who bid for fewer than 50,000 shares each and company employees would receive shares at Rs 185.25, a five per cent discount to the offer price.

Retail investors, employees and high net worth individuals would together receive 52.5 per cent of the shares on offer and institutional buyers the rest.

The Centre will, in the process, raise Rs 1,600 crore for offloading its 10 per cent stake or 84.56 million shares.