Page 2 - Ofs Norms

Aditya Birla Sun Life AMC OFS opens on Tue; fixes floor price of Rs 450 cr

Aditya Birla Sun Life AMC on Monday said its promoters propose to sell 7 per cent of their stake for Rs 900 crore. The promoters, Aditya Birla Capital Ltd and Sun Life (India) AMC Investments Inc, propose to sell up to 2,01,66,293 shares of the company representing 7 per cent of stake by way of an offer-for-sale (OFS) through stock exchange mechanism, a regulatory filing said. At the base offer, promoters would raise Rs 900 crore, while with the green shoe option they would raise about Rs 1,487 crore. The two-day OFS opens on Tuesday and closes on Wednesday, it said. The OFS comes with an option to additionally sell up to 1,28,86,277 shares representing 4.47 per cent, it said. The base offer size and the oversubscription option will represent 11.47 per cent of the total issued and paid up share capital of the company, that is 3,30,52,570 shares, it said. The floor price for the offer would be Rs 450 per share, it said. Shares of Aditya Birla Sun Life AMC Ltd closed at Rs 475.35,

Why is NLC India among top stocks to be watched today? Read here

Stocks to Watch on March 7: The government will sell up to 7 per cent stake in NLC India through an offer for sale (OFS) to raise up to Rs 2,100 crore

Central Bank of India plans offer for sale to reduce govt's stake

It has shown preference for the OFS route to avoid dilution of its equity capital base while increasing the public float of shares

NHPC OFS booked 2.3x, institutional buyers bid for 802 million shares

Through the OFS, the government was looking to divest nearly 3.5 per cent stake in the hydropower firm

Credo Brands' IPO gets subscribed 51.85 times on heavy demand from buyers

The Initial Public Offering (IPO) of Credo Brands Marketing, which owns denim brand Mufti, got subscribed 51.85 times on Thursday, the last day of subscription. Heavy demand from institutional buyers helped the share sale attract smart subscription on the closing day. The Rs 549.77 crore-initial share sale attracted bids for 71,26,92,325 shares against 1,37,44,472 shares on offer, as per data available with the NSE. The Qualified Institutional Buyers (QIBs) part got subscribed a staggering 104.95 times while the portion for non-institutional investors received 55.51 times subscription. The quota for Retail Individual Investors (RIIs) got subscribed 19.94 times. The IPO of 1,96,34,960 equity shares had a price range of Rs 266-280 a share. Credo Brands' public issue was an Offer For Sale (OFS) of up to 1.96 crore shares by promoters and other existing shareholders. The company has collected Rs 165 crore from anchor investors. Credo Brands Marketing is among the leading homegrown b

FinMin to empanel bankers, law firms for OFS disinvestment, dribbling

The Finance Ministry has invited bids for the empanelment of merchant bankers and legal advisors for assisting the government in CPSE disinvestment transactions undertaken through OFS and stock market dribbling. The bids have been invited in four categories -- A++, A+, A and B, based on the size of the transaction. To be eligible for empanelment in the A++ category, which is an OFS transaction size of more than Rs 2,000 crore, interested merchant bankers would be required to have completed at least one equity market transaction of the size of Rs 2,000 crore. For empanelment for managing OFS transaction size of Rs 750 crore to Rs 2,000 crore (A+), and less than Rs 750 crore (A), the interested merchant banker would be required to have managed at least one capital market transaction of Rs 750 crore and Rs 500 crore respectively between April 2020 and till now. In the fourth category, which is B, interested merchant bankers would be involved in the sale of CPSE shares on the stock ...

Ircon OFS kicks off; Doms IPO price band fixed at Rs 750-790 per share

Doms Industries, the stationery and art products manufacturer, has fixed the price band at Rs 750-790 per share

Thomas Cook OFS subscribed 2.1x; Mission1 buys 23% stake in Shriram AMC

The 40-million sh­a­re offering saw bids for 85.7 million shares largely from insti­tutional investors

Hudco plunges 9% as govt begins partial stake sale via OFS at discount

The floor price for the sale, however, has been set at Rs 79 apiece, which is 12 per cent lower than Tuesday's closing price pf Rs 89.9 per share

Shares of EMS gain 33% on market debut; SJVN share sale oversubscribed

At the last close, EMS was valued at Rs 1,553 crore

IRFC slumps 6% as govt eyes 11% stake sale via OFS, stock up 49% in 2023

News agency Reuters reported the government will aim to sell up to 11 per cent stake in IRFC in multiple tranches, but it is yet to decide the exact quantum of sale

Rail Vikas Nigam offer for sale subscribed 1.6 times, shows BSE data

Shares of Rail Vikas fell 6.1 per cent to end at Rs 126 in secondary market trading

Patanjali OFS retail portion sees strong demand from retail investors

Following the OFS, the company will become compliant with the 25 per cent minimum public shareholding norms

Patanjali's OFS for non-retail investors oversubscribed 2 times on Day 1

Baba Ramdev-led Patanjali Ayurved's offer to sell shares of Patanjali Foods received good response on Thursday, with the portion set aside for non-retail investors getting subscribed more than two times. The two-day Offer For Sale (OFS) has been launched by promoter entity Patanjali Ayurved to pare its total stake in Patanjali Foods by around 7 per cent to meet the minimum public shareholding requirement. The offer received cumulative bids for over 4.56 crore shares, translating into 2 times subscriptions, according to BSE data. On Thursday only 2.28 crore shares were offered for sale to non-retail investors. Retail investors will bid on Friday. Patanjali Ayurved received bids for 1,20,27,936 shares (with 100 per cent margin), while bids for 3,36,04,276 shares were received at nil margin. Shares of Patanjali Foods fell 5 per cent to Rs 1,166.65 on the BSE. On Wednesday, Patanjali Foods had informed that its promoter Patanjali Ayurved will sell up to 2.53 crore shares in its group

Patanjali Foods' OFS oversubscribed 1.8x; firm rules out greenshoe option

"We wish to intimate the exchanges of our intention not to exercise the oversubscription option." Patanjali Foods said

Patanjali Foods freezes at 5% lower limit as promoters pare stake via OFS

The floor price for the 'Offer for Sale' was fixed at Rs 1,000 per equity share; and the offer will be on July 13 and 14.

Manyavar's OFS fully subscribed, garners nearly 1.4 times more bids

The floor price for the OFS has been set at Rs 1,161

Govt plans to sell 3.5% stake in Hindustan Aeronautics through OFS

The government owns 75 per cent in the public sector aerospace and defence business

Regulator Sebi brings OFS framework 2.0, allows exit to non-promoters

The OFS mechanism will also be available to companies with a market capitalisation of Rs 1,000 crore, Sebi said

Centre to sell up to 5% stake in IRCTC via OFS to garner Rs 2,720 crore

Floor price fixed at Rs 680/share, an over 7% discount to Wednesday closing price