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Hydro S&S Industries has fixed the floor price for the offer-for-sale issue at ₹180 a share, through which promoter diluted almost 7.8 per cent stake. As against an offer for 50 lakh shares, the company received bids for 48.1 lakh shares. The company received an overwhelming response from retail investors. As against an offer of 50,000 shares, retail portion received bids for 1.4 lakh shares. The move will help the company meet minimum public shareholding norm. Prior to the issue, promoter held 82.8 per cent stake in the company.
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