Tata Communications slumped 4.68% to Rs 1236.60 after the offer for sale (OFS) opened for non-retail investors today, 16 March 2021.
Through the OFS, the Government of India proposes to sell up to 2,85,00,000 equity shares (representing 10% stake), with an option to sell an additional 6.12% stake or 1,74,46,885 equity shares in case of oversubscription.
The floor price for the OFS is Rs 1161 per equity share, a 10.51% discount to Tata Comm s closing price of Rs 1297.30 on Monday, 15 March 2021.
The total OFS size (base size + green shoe) stands at 4,59,46,885 shares, representing 16.12% of outstanding equity shares of the company, aggregating to Rs 5,334.43 crore.
The Government of India held 26.12% stake in Tata Communications as of 31 December 2020.
Read more about IRCON International tumbles as OFS begins on Business Standard. IRCON International slumped 6.29% to Rs 91.70 after the offer for sale (OFS) opened for non-retail investors today, 3 March 2021.
Wendt (India) slumped 6.01% to Rs 2918 after the offer for sale (OFS) opened for non-retail investors today.
Through the OFS, the company s promoter Carborundum Universal and Wendt GmbH propose to sell 94,704 shares, constituting 4.74% paid-up share capital of the company.
As per Sebi norms, the promoters need to bring down their stake to 75%. As per the latest shareholding pattern, Carborundum Universal and Wendt GmbH, both held 39.87% stake each in the company as on 30 September 2020.
The floor price for the OFS has been set at Rs 2200 per share, at a 29.14% discount to Wendt s closing price of Rs 3,104.7 on Wednesday, 6 January 2021.
The OFS opened on Thursday (7 January 2021) for non-retail investors, while both retail as well as non-retail investors will be able to subscribe on Friday (8 January 2021).