Promoter entities of GE T&D, Grid Equipments Private and GE Grid Alliance, are set to sell 11.7% of their equity through an Offer For Sale (OFS) at a floor price of ₹1,400 per share. The OFS comes with a green shoe option of 3.9% equity in the event of oversubscription.
The OFS will open on September 19, with the first day reserved for non-retail investors. Retail investors, as well as non-retail investors with unallotted bids, can participate on day two. A total of 10% of the OFS has been reserved for retail investors, while 25% is allocated to mutual funds and insurance companies. Retail bids will be capped at ₹2 lakh across stock exchanges.
JPMorgan India has been appointed as the broker for the OFS.
TOPICS:
Ge T&D