The offer to sell shares of Muthoot Capital Services by six of its promoters was oversubscribed today.
The offer for sales of 3,09,165 shares, received bids for 3,09,187 shares, the data showed.
The floor price for the sale is Rs 90 apiece, which is at a premium of over 9% to the today's closing price of Rs 81.50.
Based on the minimum bidding price, sale of 3,09,187 lakh shares would fetch over Rs 2.78 crore to the company.
The company in a filing to the BSE last Friday had said, its promoters — Thomas John Muthoot, Thomas George Muthoot, Thomas Muthoot, Preethi John, Neena George and Remmy Thomas — would collectively sell 3,09,165 shares of Muthoot Capital Services Ltd on August 1.
The company had appointed Hedge Equities Ltd as the broker for the deal.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app