Grid Equipments Private Limited has announced the launch of an offer for sale (OFS) through the Stock Exchange Mechanism, which will involve the sale of up to 14,000,000 equity shares of GE Vernova T&D India Limited. The shares, with a face value of INR 2 each, will be offered at a floor price of INR 1,550 per share.
The offer will be open in two phases:
- For Non-Retail Investors: The offer will open on November 26, 2024, at 9:15 a.m. and close on the same day at 3:30 p.m.
- For Retail Investors: The offer for retail investors will open on November 27, 2024, at 9:15 a.m. and close at 3:30 p.m. on the same day.
Both offerings will take place through a separate window of the Stock Exchanges. The shares will be sold at the floor price of INR 1,550, which is set at the minimum price for the sale. The entire offer will be executed in accordance with the regulations of the Stock Exchanges and the Securities and Exchange Board of India (SEBI).
This move is expected to provide liquidity for Grid Equipments, while allowing institutional and retail investors to participate in the sale of the equity shares of GE Vernova T&D India Limited, a key player in the transmission and distribution sector.
