| Public offer of 488,984,620 equity shares of face value of Rs. 10 each ("equity shares") of Rashtriya Ispat Nigam Limited ("RINL" or "the company") through an offer for sale by The President of India, acting through the Ministry of Steel, Government of India (the "selling shareholder") for cash at a price of Rs. [*]~ per equity share aggregating up to Rs. [*] crores (the "offer"). The offer comprises a net offer to public of 440,086,158 equity shares (the "net offer") and a reservation of 48,898,462 equity shares for subscription by eligible employees (the "employee reservation portion"). The offer shall constitute 10% of the post offer paid-up equity share capital of the company and the net offer shall constitute 9% of the post offer paid-up equity share capital of the company.
~A discount up to 5% (equivalent to Rs. [*] on the offer price is being offered to Retail Individual Investors ("retail Discount") and eligible employees bidding in the employee reservation portion (the "employee discount"). Eligible employees and Retail investors should note that the benefit of the retail discount and employee discount can be availed at the time of submitting the bid.
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