Indostar Capital, one of the promoters of IndoStar Capital Finance will sell about 61.90 lakh shares (representing 5 per cent stake) through an offer for sale, the company informed stock exchanges. The OFS issue will also have an green-shoe option to additionally sell up to 61.90 lakh shares in the event of over-subscription.
The floor price for the sale has been set at ₹290 a share, which is about 14 per cent discount to today's closing price of ₹338.25. The OFS is being undertaken to meet the minimum public shareholding norms, as the total promoter holding in the company stands at 93.26 per cent.
The stake sale will open for non-retail investors on Friday and for retail investors on Monday
As on June 30, IndoStar Capital held 38.45 per cent in the company.
Published on August 18, 2021
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