Shares of Gujarat Fluorochemicals fell nearly 4% in Wednesday’s session after reports that its promoters will sell 13 lakh shares in a fresh offering. The stock dropped 3.86% to Rs 3,553.00 apiece, down Rs 142.70 at 9:07 AM on the NSE.
According to a term sheet accessed by CNBC-TV18, the promoters have set a floor price of Rs 3,500 per share for the offering. However, details regarding the timeline, structure of the sale — whether through a block deal or open offer — and the expected proceeds have not been disclosed.
Gujarat Fluorochemicals, part of the INOXGFL group, is among India’s leading manufacturers of fluoropolymers, fluoroelastomers and refrigerants. The company’s products cater to diverse industries including pharmaceuticals, agrochemicals, batteries, EVs, and renewable energy, with exports spanning over 75 countries.
As of Tuesday, Gujarat Fluorochemicals’ shares closed at Rs 3,690.00 on the NSE, giving it a market capitalisation of about Rs 40,534.65 crore. The stock has declined 12.6% year-to-date.
At the time of writing, shares were trading at Rs 3,553.00, down 3.86%.
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