OFS: Tata Comm fully subscribed, rest get lukewarm response

Moneycontrol Bureau

 

Eight companies opened offer-for-sale (OFS) today as the market regulator Securities and Exchange Board of India's (Sebi) guidelines on minimum public shareholding norms is fast approaching.

According to Sebi norms, all private sector listed companies need to have at least 25 percent public shareholding and promoters have been asked to lower their stake to 75 percent or below by June, 2013.

Don't miss: Some cos got around Sebi minimum public holding rule on paper

Here is an update on how the companies fared:

BGR Energy
Subscribed 0.5x at close; gets bids for 22.47 lakh shares
Indicative price at Rs 167.99 per share vs floor price of Rs 163 per share

Essar Ports
Subscribed 0.7x at close; gets bids for 24.6 lakh shares
Indicative price at Rs 78.76 per share vs floor price of Rs 77 per share

Omaxe
Subscribed 0.3x at close; gets bids for 59 lakh shares
Indicative price at Rs 141.14 per share vs floor price of Rs 140 per share

Tata Communications
Subscribed 1.56x at close; gets bids for 43.05 lakh shares
Indicative price at Rs 174.41 per share vs floor price of Rs 196 per share.