BGR Energy share sale commences; stock hits 52-week low
The promoter has fixed floor price at Rs 118 per share, a 7% discount to Thursday's closing price of Rs 127 on BSE.
BGR Energy Systems has dipped nearly 5% to Rs 121 in the morning trade after the promtoers’s 3% share sale commenced on bourses.
Sasikala Raghupathy, the promoter of the company proposes to sell around 2.18 million, representing 3.01% stake through offer-for-sale (OFS) route, to meet minimum public shareholding norms, BGR Energy Systems said in a regulatory filing.
The promoter has fixed floor price at Rs 118 per share, a 7% discount to Thursday’s closing price of Rs 127 on BSE. Currently, the promoters hold 78.01% stake in heavy electrical equipment firm.
The stock opened at Rs 123 and has seen a combined around 60,000 shares have changed hands on the counter so far on BSE and NSE.
Sasikala Raghupathy, the promoter of the company proposes to sell around 2.18 million, representing 3.01% stake through offer-for-sale (OFS) route, to meet minimum public shareholding norms, BGR Energy Systems said in a regulatory filing.
The promoter has fixed floor price at Rs 118 per share, a 7% discount to Thursday’s closing price of Rs 127 on BSE. Currently, the promoters hold 78.01% stake in heavy electrical equipment firm.
The stock opened at Rs 123 and has seen a combined around 60,000 shares have changed hands on the counter so far on BSE and NSE.