Sanghi Industries OFS sees strong response; retail investors can bid today
Sanghi Industries OFS sees strong response; retail investors can bid today
Retail investors can bid for offer for sale (OFS) by promoters of Sanghi Industries -- Ambuja Cements and Ravi Sanghi, today. The OFS received 4.78 times subscription by non-retail investors on Day 1 at an indicative price of RS 97.80, BSE data suggested. Sanghi Industries received non-retail bids of 39,110,027 shares against the offer size of 8,182,800 shares.
On Thursday, the smallcap stock was trading 1.85 per cent lower at Rs 101.34 on BSE. Retail bids stood at 1,76,337 shares, 19.39 per cent of offer size of 9,09,200 shares. Retail investors and non-retail investors, who choose to carry forward their unallotted bids, can bid for Sanghi OFS today.
Sanghi Industries ended 1.14 per cent higher on Wednesday, even as the OFS floor price was set at a 12 per cent discount to its Tuesday's closing price.
Ambuja Cements and Ravi Sanghi are looking to offload up to 3.52 per cent stake in Sanghi Industries via offer for sale (OFS), the company said in a stock exchange filing on June 25. The Annual General Meeting (AGM) of the company was held on June 26.
Adani group firm Ambuja Cements is offering offer up to 2.36 per cent stake for sale. Ravi Sanghi is looking to sell up to 1.16 per cent stake. As per the latest shareholding patter, Ambuja Cements held a 60.44 per cent stake in the company on March 31, while Sanghi held 2.10 percent stake. The promoter group held a total stake of 78.52 per cent in the company as of March 31.
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