Accelya rebounds 16% from day's low on receiving strong response for OFS

According to the BSE data, the non-retail portion of Accelya OFS's was subscribed fully or 102 per cent

Shares of Accelya Solutions India hit a 52-week high of Rs 1,184.90 as they rallied 8 per cent on the BSE in intra-day trade on Wednesday, bouncing back 16 per cent from the day’s low of Rs 1,020 on receiving a good response from non-retail investors for the offer for sale (OFS). At 01:22 pm, the stock was up 7 per cent at Rs 1,167, as compared to a 0.65 per cent rise in the S&P BSE Sensex.

According to BSE data, the non-retail portion of Accelya OFS was subscribed fully or 102 per cent, with cumulative bids of 2 million shares received against reserved 1.96 million shares.

Accelya announced an OFS of 2.18 million shares (14.62 per cent of paid-up capital), with a floor price set at Rs 910 per share.

A total of 10 per cent of the share sale shall has reserved for retail investors. The OFS opened for non-retail investors today and will open for retail investors on Friday.

The unsubscribed portion of the sale shares reserved for retail investors shall be available for allocation to the investors in the non-retail category, Accelya said in a notice to shareholders.

The OFS segment earlier allowed only promoter/promoter group entities of listed companies to act as “sellers” to dilute/offload their holding to achieve a minimum public shareholding of 25 per cent.

As of March 31, 2021, Accelya promoters, Accelya Holding World S L (74.66 per cent) and Aurora Uk Bidco Limited (14.62 per cent), collectively held an 89.27 per cent stake in the company.

Accelya is a leading global provider of technology platforms, software and services to the travel and transport industry. Accelya offers a modular suite of technology solutions for air travel, from offer to settlement, solving critical business problems for airlines, travel agents and industry bodies such as IATA.