Esoteric II Pte, a sponsor of India Grid Trust, plans to sell up to 17.32% of its stake in the company through an Offer For Sale (OFS). The sale will take place over two days, August 22-23, 2024, with a floor price set at ₹132 per share.
Offer Details:
- Base Offer: 9.66% of Unit Capital (75,700,000 Units)
- Oversubscription Option: Additional 7.66% of Unit Capital (60,050,000 Units)
- Total Offer Units: 17.32% of Unit Capital (135,750,000 Units, if fully subscribed)
Schedule:
- August 22, 2024 (T Day): For non-retail investors
- August 23, 2024 (T+1 Day): For retail investors and unallotted non-retail bids
Please note that only Non-Retail Investors shall be allowed to place their bids on T Day, i.e., August 22, 2024. For Retail Investors (defined hereinafter), and for Non-Retail Investors, who chose to carry forward their un-allotted bids on T+1 day, i.e., August 23, 2024 – the company stated
Key Points:
- Floor Price: ₹132 per share
- Exchange Window: BSE and NSE will provide the separate window for the sale.
This sale offers both retail and non-retail investors an opportunity to acquire a stake in India Grid Trust at a predetermined price. The move comes as part of Esoteric II Pte’s strategy to reduce its holdings in the company.
