Gillette sets floor price At Rs 1,650

Gillette India has set the floor price for its offer for sale, through which the Poddar family would reduce their stake in the company, at Rs 1,650.

They would be selling shares 2.8 million shares, valuing the stake sale at a minimum of Rs 471 crore. The sale of 8.77% of the total paid up equity share capital of the Company, is to be made on 13th November, 2013.