Disa India has tanked 10% to Rs 2,460 after the company said that its promoter - Disa Holding - has proposed to sell over 10% stake of the company through offer for sale route on the Bombay Stock Exchange (BSE).
“DISA Holding A/S has submitted a notice of Offer for Sale an aggregate of up to 173,483 equity shares of face value of Rs 10 each of Disa India aggregating to 11.49% of the total paid up share capital of the company,” Disa India said in a statement.
The sale shall take place at the separate window of the BSE shall commence on November 20, 2012 at 9.15 a.m. and shall close the same day at 3.30 p.m. Indian Standard Time, it added. Currently, promoters hold 86.49% stake in the company.
The stock opened at Rs 2,525 and hit a low of Rs 2,323 on the BSE. Around 700 shares have changed hands on the counter in opening deals.