Stl.au.ind.gdr Regulatory News (SAUD)

Dear Sir, It is hereby informed that Government of India has approved the following: I) 10% Further Public Offer (FPO) by SAIL and 10% of offer for sale by Government of India in two discrete tranches – the first comprising 5% of FPO viz. fresh issue of 5% pre-issue paid up equity of the company and offer for sale of 5% equity of SAIL out of Government’s shareholding and the second also comprising 5% of FPO and 5% of offer for sale; to be issued at appropriate times in consideration of SEBI guidelines and prevailing market conditions. The first tranche comprising the 5% of FPO viz. fresh issue of 5% pre-issue paid up equity of the company and the offer for sale of 5% equity of SAIL out of Government’s shareholding will be carried out in the domestic market as per SEBI regulations.