Endurance Technologies OFS: Non-retail quota subscribed 4.61 times

NEW DELHI: The two-day offer for sale (OFS) by Endurance Technologies has witnessed a good response from non-retail investors, with the issue receiving bids for 2,64,23,121 shares, which was 4.61 times of the total issue size of 57,27,273 shares reserved for the category .

Overall, the promoter Anurang Jain has put 63,63,637 shares (base offer size) on the block, representing 4.52 per cent of the total paid up equity share capital of the company. A total of 10 per cent is reserved for retail category. On Wenesday only non-retail categories (90 per cent quota) will bid for Endurance Technologies shares. Retail participants will bid on Thursday.

The floor price of the issue is set at Rs 1,100, which was at 12.94 per cent discount to the scrip's previous day closing of Rs 1,263.50. The company intends to sell an additional of up to 41,89,051 shares if the issue is ovesubscribed.


The move is aimed at reducing promoters’ stake to meet the Securities and Exchange Board of India’s (SEBI) minimum public shareholding norm of 75 per cent. Currently, the promoters hold 82.50 per cent stake in the auto ancillary company.