 "Sebi public holding norms: BGR Energy promoter to sell 6.1%")
Little over 44.23 crore shares would be offloaded at a price of Rs 163 apiece, the company said in a regulatory filing. These shares represent 6.13% stake in the company.
BGR Energy has scheduled the share sale for June 3.
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Listed private sector companies are required to meet the 25% minimum public shareholding by June 3, 2013 to avoid penal actions by the Securities and Exchange Board of India (Sebi).
At the end of March quarter, promoters held 81.13% shareholding in BGR Energy. Out of that, Sasikala Raghupathy's stake stood at 16.05%.
The company is into the supply of systems and equipment besides turnkey engineering project contracting activities.
Shares of BGR Energy fell nearly four% to close at Rs 192.35 on the BSE.
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