India Grid Trust Sponsor To Sell 17.32% Stake Via OFS
The offer will open on Aug. 22 and close on Aug. 23 with the floor price set at Rs 132 per share.
Esoteric II Pte., an affiliate of KKR and a sponsor entity of India Grid Trust, will sell up to 17.32% via an offer for sale.
The offer will open on Aug. 22 and close on Aug. 23, with the floor price set at Rs 132 per share.
Esoteric II will sell up to 7.5 crore shares for a base offer of 9.66% and will offload an additional 6 crore shares, or 7.66% stake, if the OFS is oversubscribed, India Grid Trust said in its exchange filing on Wednesday.
Of the offered units, 10% will be set aside for retail investors, contingent on receiving valid bids. The stock exchanges will determine the number of offer units eligible for the retail portion based on the floor price announced by the seller, according to the exchange filing.
Brokers on behalf of the seller include Axis Capital Ltd., Ambit Capital Pvt. Ltd., and SBICAP Securities Ltd., while Axis Capital will be the settlement broker.
Shares of India Grid Trust closed 0.07% lower at Rs 136.03 apiece, as compared with a 0.29% advance in the Nifty 50.
