Omaxe OFS commences at Rs 148/share; stock tanks 8%
Realty firm Omaxe Ltd slipped nearly 8 per cent in trade on Tuesday on the BSE as the company launched its one-day offer-for-sale (OFS).
By ET Online | Updated:
NEW DELHI: Realty firm Omaxe Ltd slipped nearly 8 per cent in trade on Tuesday on the BSE as the company launched its one-day offer-for-sale (OFS).
The company plans to sell 50 lakh shares through Offer For Sale (OFS) at a floor price of Rs 148 a share to raise up to Rs 74 crore. Constellation Capital Ltd and S.A. Finvest Ltd, the promoters of realty firm Omaxe Limited.
At 10:00 a.m.; Omaxe was trading 6 per cent lower at Rs 154.40. It hit a low of Rs 151.30 and a high of Rs 160 in trade today.
The OFS is being launched to meet market regulator SEBI's norm on minimum 25 per cent public shareholding by June 30 for private sector listed companies
As on March 31, promoters had 89.14 per cent stake in the company. After the sale of 50 lakh shares, promoters' stake would come down by about three per cent to about 86 per cent.
The company plans to sell 50 lakh shares through Offer For Sale (OFS) at a floor price of Rs 148 a share to raise up to Rs 74 crore. Constellation Capital Ltd and S.A. Finvest Ltd, the promoters of realty firm Omaxe Limited.
At 10:00 a.m.; Omaxe was trading 6 per cent lower at Rs 154.40. It hit a low of Rs 151.30 and a high of Rs 160 in trade today.
The OFS is being launched to meet market regulator SEBI's norm on minimum 25 per cent public shareholding by June 30 for private sector listed companies
As on March 31, promoters had 89.14 per cent stake in the company. After the sale of 50 lakh shares, promoters' stake would come down by about three per cent to about 86 per cent.
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