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Steel Authority of India Ltd (SAIL) FPO (SAIL FPO) Detail

        
  
   

Incorporated in 1950, Steel Authority of India Limited (SAIL) is the leading steel-making company in India. It is a fully integrated iron and steel maker company, producing both basic and special steels for domestic construction, engineering, power, railway, automotive and defense industries and for sale in export markets. SAIL is also among the five Maharatnas of the country's Central Public Sector Enterprises.

SAIL manufactures and sells a broad range of steel products, including hot and cold rolled sheets and coils, galvanised sheets, electrical sheets, structural, railway products, plates, bars and rods, stainless steel and other alloy steels. SAIL has five integrated steel plants, three special plants, and one subsidiary in different parts of the country. Mainly SAIL's customers are Government agencies, large industrial concerns, international oil companies and public sector undertakings.

Issue Detail:

  »»  Issue Open:
  »»  Issue Type: 100% Book Built Issue FPO
  »»  Issue Size: Equity Shares of Rs. 10
  »»  Issue Size: Rs. [.] Crore
  »»  Face Value: Rs. 10 Per Equity Share
  »»  Issue Price: Rs. - Rs. Per Equity Share
  »»  Market Lot:
  »»  Minimum Order Quantity:
  »»  Listing At: BSE, NSE






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SAIL FPO Rating

   Rating: 3.2
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SAIL FPO Listing Date

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Listing Day Trading Information

SAIL FPO Prospectus

Company Contact Information

Registered Office :
   
   
   
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Website: http://www.sail.co.in

SAIL FPO Registrar

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Website: http://

SAIL FPO Lead Manager(s)


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SAIL FPO Messages (SAIL FPO Comments)

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43. progress  Jul 14, 2011 12:47:29 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
progress's - IPO Comments,  Public Profile

Latest date received is 13 aug

 

42. SK CHOUDHARY  Jun 6, 2011 9:55:40 AM IST |   Reply  |  I Like It.  Like  |  Report Abuse
SK CHOUDHARY's - IPO Comments,  Public Profile

SREDHAR,
WHATS YOUR OPINION ABOUT TRADING TIPS TODAY ABOUT COAL INDIA WILL IT GO UP OR DOWN. ANSWER IT URGENTLY.

 

41. IPORAJAIPO  Jun 3, 2011 2:41:36 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
IPORAJAIPO's - IPO Comments,  Public Profile

our national leader ate rcf-hmt-iti-hind zinc&now bsnl-mtnl there after ntpc

 

40. Sreedhar  Jun 2, 2011 8:15:16 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Sreedhar's - IPO Comments,  Public Profile

Here is another joke from an FPO called SAIL.



SAIL FPO to hit market after coking coal prices moderate


Prices|Financials|Company Info|Reports

NEW DELHI: The follow-on-public offer (FPO) of state-run steel giant Steel Authority of India Ltd which has been deferred twice, is expected to hit the capital market once the global coking coal prices moderate.

At present, price of coking coal, which is an important raw material for steel industry, is ruling at $330 a tonne and analysts expect this to come down to about $ 220-230 per tonne.

Sudden rise in the coking coal prices has put pressure on margins of the steel manufacturers, sources said, adding, this is main reason for the deferment of the Steel Authority of India Ltd (SAIL) FPO.

"Global coking coking coal prices are very high and the sudden spurt is hurting the margins of steel companies. Hence, we have delayed the SAIL FPO plan," sources told media.

Moreover, The choppy stock market condition coupled with rising input cost would not have fetched desired premium to SAIL, sources added.

SAIL FPO was to hit the market on June 14 for which it was to file final papers with market regulators SEBI yesterday.

The company, however, deferred the share sale offer that envisages to raise up to Rs 8,000 crore.

SAIL Chairman C S Verma had yesterday said that the FPO date would be decided on market condition and it may spillover beyond June.

"Let the market become normal and then, we will be able to tell you the dates," Verma had said.

The FPO has failed to meet deadlines repeatedly since December last year due to unfavourable market conditions and problems with merchant bankers.

The government, holds a little over 85 per cent in SAIL and plans to divest 5 per cent of its holding in the first phase of the disinvestment.

In the second phase, the company would come out with fresh equity issue of 5 per cent, which will eventually bring down the government's stake to 69 per cent.

Shares of Steel Authority of India Ltd (SAIL) has plunged about 20 per cent since the beginning of this year, as per data on the Bombay Stock Exchange. Scrip of the company today closed at Rs 149.45 on the BSE.

The government has set a target to raise Rs 40,000 crore through disinvestment in state-run firms in the current fiscal.

 

39. Ali bhoy sakarbazar wala  Jun 1, 2011 4:58:43 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Ali bhoy sakarbazar wala's - IPO Comments,  Public Profile

NEW IPO
BIRLA PACIFIC MEDSPA (YASH BIRLA GROUP)
OPEN 20 TO 23 JUNE
ENOY

 

38. IPORAJAIPO  Jun 1, 2011 3:01:31 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
IPORAJAIPO's - IPO Comments,  Public Profile

SAIL's game transfer from JM to RJ.so bewere. FPO sure.

 

37. IPORAJAIPO  Jun 1, 2011 1:52:08 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
IPORAJAIPO's - IPO Comments,  Public Profile

sail fpo deferred that news is rumer,fpo postpone for few days

 

36. NIFTY FIFTY  Jun 1, 2011 1:29:14 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
NIFTY FIFTY's - IPO Comments,  Public Profile

NEWS FLASH


Article
SAIL FPO deferred due to adverse market conditions
NDTV Correspondent, June 01, 2011 (New Delhi)



PSU major Steel Authority of India Limited’s Rs. 8,000-crore follow-on-public offer (FPO) has been deferred. SAIL's chairman CS Verma on Wednesday said the company will not file FPO documents due to unfavourable market conditions.

The government holds 85.8 per cent stake in SAIL and it planned to divest five per cent of its stake through this FPO. Another five per cent was to be fresh equity sale.

The proposed FPO was likely to hit the capital markets by around June 14 and today was the last date to file the draft prospectus.

SAIL stocks were trading 3 per cent higher on the BSE at 11.52 am.



Read more at: http://profit.ndtv.com/news/show/sail-fpo-deferred-due-to-adverse-market-conditions-157700?cp

 

35. IPORAJAIPO  Jun 1, 2011 12:50:39 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
IPORAJAIPO's - IPO Comments,  Public Profile

sail fpo rate will announce as on 11th june about 140-144&discount Rs.5 not 5%, date will announce on tuesday

 

34. NIFTY FIFTY  Jun 1, 2011 12:16:10 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
NIFTY FIFTY's - IPO Comments,  Public Profile

Govt rules out SAIL FPO at current priCE



Volatile stock market is likely to play a spoilsport, as the government on Wednesday said follow-on public offer (FPO) of state-run Steel Authority of India Ltd (SAIL) is not possible at the current market price of the unit.

SAIL’s scrip on Wednesday closed at Rs.139.25 a share on the Bombay Stock Exchange (BSE), which is down by 25.91% compared with its share price at the beginning of the year.

“We have not taken any decision for FPO, but at today’s (Wednesday) price (of shares of SAIL in the markets), it does not suit us... it is not possible,” steel minister Beni Prasad Verma told reporters here.

He added that “no one wants to sell it cheap, neither the company nor the government. We can wait for the right time”.

When asked about the probable dates for FPO, Verma said the government still has some time to take a final call.

SAIL’s FPO committee had earlier proposed to launch the share sale programme on 14 June. However, the company board, in its meeting held on last Monday, could not decide upon the timeline due to high volatility in the stock markets.

The Bombay Stock Exchange Sensex was down by 0.91% at 17,847.24 points on Wednesday, while the National Stock Exchange closed at 5,348.95 points, down 0.85%.

The steel minister also denied any pressure from the finance ministry and the department of disinvestment to launch the FPO at the earliest.

“We are not under pressure from the finance ministry. They have told us to decide on our own,” Verma said.

According to the earlier plan of the Maharatna firm, its share-sale prospectus with Registrar of Companies was to be filed on 31 May, while 1 June was the proposed date for filing it with market regulator the Securities and Exchange Board of India.

 

33. SkDash  Jun 1, 2011 12:05:41 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
SkDash's - IPO Comments,  Public Profile

Star IPO king-
5% dis on allotment and
2% discount on listing day
30% discount on anniversary of FPO listing

 

32. STAR IPO KING  Jun 1, 2011 11:46:13 AM IST |   Reply  |  I Like It.  Like  |  Report Abuse
STAR IPO KING's - IPO Comments,  Public Profile

Finaly govt. give green signal to sail fpo in 2 part .price band may be 132-139 with 5% dishcount.

 

31. PSR  Jun 1, 2011 10:01:27 AM IST |   Reply  |  I Like It.  Like  |  Report Abuse
PSR's - IPO Comments,  Public Profile

Why everybody is silent?

Please speak out to the extent of the known information.

 

30. NIFTY FIFTY  May 28, 2011 3:45:53 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
NIFTY FIFTY's - IPO Comments,  Public Profile

THANKS PSR

 

29. PSR  May 27, 2011 10:31:34 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
PSR's - IPO Comments,  Public Profile

Dear NIFTY FIFTY

If the share price of SAIL come down to 130 then the rate of 130PE depends on the time left for expiry. If the rate come down by June 20th then the rate of 130PE would be about Rs.3

Option rate depends on the type of option i.e. at the money, in the money, out of money, deep in the money etc. Normally option rate would be @2.5% to 5% of the strike price of at the money option depending on the volatility of the script/Index. It also depends on the number of days left the expiry. Demand and supply also influences the option rates. Though, there are certain formulas for working out the option rates, always there is variation between the rates worked out according to formula and prevailing in the market. Hence, we will have to go by market.

 

28. santonu  May 27, 2011 9:56:27 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
santonu's - IPO Comments,  Public Profile

govt fpo with 5% discount will not attract retail investor,avoid

 

27. STAR IPO KING  May 27, 2011 9:14:11 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
STAR IPO KING's - IPO Comments,  Public Profile

If share price crosed 145 by tuesday, than gov. will declare fpo price 135/144 on may 1.with no 5% discount to public this time.STRANGE?

 

26. NIFTY FIFTY  May 27, 2011 7:39:02 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
NIFTY FIFTY's - IPO Comments,  Public Profile

Divyrajeshm,PSR "GOOD EVENING TO BOTH OF YOU AND TO OTHERS"

HERE ARE SOME QUERIES

1. YOU ARE SAYING THAT WE CAN HEDGE OUR POSITION IN SAIL BUYING THE PUT OF 130 WICH IS NOW TRADING AT 1RS.

NOW THE QUESTION IS, WHAT WOULD BE THE RATE OF SAIL WHEN IT COME TO 130 RS IN THE MONTH OF JUNE.

2 IS THERE ANY METHOD TO CALCULATE PUT OR CALL, BY PUTTING PRICE AND TIME.

ALL ARE INVITED TO RESOLVE MY/OUR QUERY.

THANKS AND HAPPY INVESTING

SPECIAL THANKS TO STAR CONTRIBUTORS

 

25. SkDash  May 27, 2011 4:11:38 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
SkDash's - IPO Comments,  Public Profile

why all these FPO from Govt ?
I am holding SAIL for more than yr with 3times average-

@ 246 (43%),
@ 211 (34%),
@ 190 (26%)

Daily it is coming down...........In case u cant exit on the listing day, u will be in like manner-Long term potential

 

24. PSR  May 27, 2011 2:51:55 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
PSR's - IPO Comments,  Public Profile

23. Divyrajeshm

This strategy works only when issue price is around Rs.130. If the issue price is much above 130 this PUT OPTION takes care of the fall below 130, if any.

On the other hand if the SAIL shoots up to 165 you will be making lot of money from the FPO and you will lose a small sum of Rs.1000 i.e. cost of PUT OPTION, on account of this transaction.

 

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