b4S Solutions offers to sell 160,08 shares of Swaraj Automotive Ltd.
DSIJ Intelligence / 20 Jun 2017
On June 19,2017, b4S Solutions Private Limited ( a sole promoter of Swaraj Automotives Limited) proposed to sell 160,08 equity shares of face value of 10/- each representing 6.68% of the share capital of the Swaraj Automotive Limited on day of OFS through a sale on the separate window provided by BSE Limited.
On June 19,2017, b4S Solutions Private Limited ( a sole promoter of Swaraj Automotives Limited) proposed to sell 160,08 equity shares of face value of 10/- each representing 6.68% of the share capital of the Swaraj Automotive Limited on day of OFS through a sale on the separate window provided by BSE Limited. The floor price for the sale shall be Rs. 160.00/- per share.
The shares of the Company are listed only on BSE Limited , accordingly, the sale shall be undertaken only through the trading platform provided by the BSE only.
The sale shall take place on a separate window of the Stock Exchanges on June20,2017, commencing at 9:15 a.m. and shall close at 3:30 p.m. on the same date.
Non-Retail Investors shall have an option to carry forward their bids from June 20,2017 to June21, 2017 and shall be allowed to revise their bids on Wednesday as per the SEBI OFS Circulars.
In accordance with the SEBI OFS Circulars, the allocation shall be on the proportionate method basis at a single clearing prices basis. About, 75% of the shares being offered in the sale shall be reserved for retail investors, subject to receipt of valid bids. A minimum of 25% of the shares in the sale shall be reserved for mutual funds registered with SEBI.
Retail investors will have option to place their bid at “Cut-off price”. Cut-off price means the lowest price at which the sale shares are sold, as shall be determined based on all valid bids received in non-retail category on Tuesday. About, 5 per cent is being offered to retail investors as a discount.
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