BGR Energy promoter Sasikala Raghupathy on Friday sold 3 per cent stake through the offer-for-sale route.

As against an offer of 21.75 lakh shares, the company received a bid for 37.43 lakh shares. The indicative price - at which a maximum number of shares was tendered - was Rs 119.24 against the floor of Rs 118 apiece.

The offloading by the promoter was to meet SEBI's minimum 25 per cent public shareholding norm.

The BGR Energy stock tumbled to a 52-week low of Rs 120.55, but closed at Rs 123, a fall of 3 per cent over previous day's close.

(This article was published on July 5, 2013)
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