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.
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.
investors, employees and high net worth individuals would
together receive 52.5 per cent of the shares on offer
and institutional buyers the rest.
Centre will, in the process, raise Rs 1,600 crore for
offloading its 10 per cent stake or 84.56 million shares.