The government has garnered over 1,500 crore rupees from the truncated divestment in the nation's largest steel producer SAIL today. The Offer For Sale received bids for 24.13 crore shares against 24.03 crore shares on offer.

The indicative price, which is the weighted average price of all valid bids, was 63.07 rupees a share. At this price, the government would garner over 1,500 crore rupees.

The Empowered Group of Ministers on disinvestment, headed by Finance Minister P Chidambaram, earlier this week decided to halve the SAIL offer size to 5.82 per cent from the earlier planned and Cabinet approved 10.82 per cent, amid a weak trend in the stock market.