STC offer-for-sale yet to find buyers

Our Bureau Chennai | Updated on March 12, 2018 Published on August 02, 2013

The Centre's move to divest stake in State Trading Corporation began on a damp squib note, as there were no takers for the offer till 11.15 a.m.

The Government on Thursday cleared the floor price at Rs 74 a share for STC's offer-for-sale.The stock is currently ruling at Rs 73.4.

The Centre proposes to sell 6.13 lakh equity shares of face value of Rs10 each aggregating approximately 1.02 per cent of the total paid-up share capital of the company.

The divestment will help the Government to meet the minimum public shareholding norm of 90 per cent. The stake sale is expected to fetch Rs 4.5 crore to the Government.

Published on August 02, 2013
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