The floor price for the offer for sale has been set at ₹1,550 per share. The sale will involve a base offer of 14,000,000 equity shares (5.47% of paid-up equity) with an option to oversubscribe by an additional 7,451,168 shares (2.91%), collectively amounting to 21,451,168 shares.
The OFS will open for non-retail investors on November 26, 2024, from 9.15 am to 3.30 pm, and for retail investors and unallotted non-retail investors on November 27, 2024, during the same hours. JP Morgan India Private Ltd has been appointed as the broker for this transaction.
Also Read: HDFC Life reports customer data theft, investigation underway
In September this year, Grid Equipments Private Ltd and GE Grid Alliance B.V. (formerly Alstom Grid Holding B.V.) had announced a proposed OFS.
The floor price of the offer was set at ₹1,400 per equity share. The OFS involves up to 11.7% of the company’s equity share capital, which amounts to 30 million shares. Each share has a face value of ₹2.
The promoters have also included an oversubscription option to sell an additional 3.9% of equity, representing 10 million shares, which could increase the total sale to 15.6% of the company’s paid-up equity share capital, if fully exercised. This means the total potential offer size could reach 40 million shares.
Also Read: KEC International secures new orders worth ₹1,114 crore across key businesses
Shares of GE Vernova T&D India Ltd ended at ₹1,905, up by ₹49.90, or 2.69%, on the BSE.
(Edited by : Shoma Bhattacharjee)
First Published: Nov 25, 2024 6:11 PM IST
