Protean eGov Technologies’ shares declined after NSE Investments announced plans to sell up to a 20.31% stake in the company through an Offer for Sale (OFS). The floor price for the OFS has been set at Rs 1,550 per share.
As of 9:17 am the shares were trading 7.49 at ₹1,711.15 on NSE.
Key Details of the OFS:
- Stake Sale: NSE Investments, a non-promoter shareholder, aims to offload a base stake of 10.16% (41,17,303 equity shares).
- Green Shoe Option: An additional 10.16% stake is available for oversubscription, totaling up to a 20.31% stake in the company.
- Timeline:
- Non-retail investors can participate on Friday, November 22.
- Retail investors can bid on Monday, November 25.
- Trading Window: The OFS will be conducted via a separate BSE trading window from 9:15 am to 3:30 pm on both days.
TOPICS:
Protean eGov