GMM Pfaudler has announced OFS by the Promoter Pfaudler Inc and Urmi Patel of 25.71 lakh shares or 17.59% with an option to additionally sale 15.22 lakh shares (10.41%). The OFS to start on 22nd September with the Floor Price at Rs.3500 for non retail investors while for retail it will be open on 23rd September. The closing price of the GMM Pfaudler on 21st September is 5203 so it will be 33% discount offered for the investors. Its a good company to invest in.
GMM Pfaudler OFS Details:
- Open Date: 22 September 2020 (Non Retail)
- Close Date: 23 September 2020 (Retail)
- Retail Portion: 10%
- Floor Price: Rs.3500 (33% discount to 5203)
- Discount on CMP: 33%
- Retail Discount: N/A
- Base Size: 25,71,429 shares
- Green Shoe: 15,21,671 shares
- Total Size: 40,93,100 shares
GMM Pfaudler promoters to sell up to 40.93 lakh shares or 28% stake through an Offer for Sale. Floor price of Rs 3,500 per share is a 33% discount to Monday's closing. The total share sale amounts to Rs 1,433 crore. Base offer is for 25.71 lakh shares (17.59%) with an over subscription option of 15.22 lakh shares (10.41%). The OFS for non-retail investors opens today while that for retail investors opens tomorrow. Sellers include Pfaudler Inc, Millars Machinery and Urmi Patel.