OFS: Adani Ent, Novartis, Essar Ports oversubscribed

Moneycontrol Bureau

Nine companies are offloading shares today via offer-for-sale (OFS). As per market regulator Securities and Exchange Board of India's (Sebi) minimum public shareholding 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.

Here is an update of the OFS till 3.30 pm:

Adani Enterprise

Gets bids for 1.61 crore shares vs issue of 1.6 crore
Indicative price at Rs 228.23 per share vs floor price of Rs 227 per share

Essar Ports

Gets bids for 2.03 crore shares vs issue of 2.26 crore shares
Indicative price at Rs 80.89 per share vs floor price of Rs 77 per share

Essar Shipping

Gets bids for 1.96 crore shares vs issue of Rs 1.78 crore
Indicative price at Rs 19.57 per share vs floor price of Rs 19.50 per share

Jet Airways

Gets bids for 29.86 lakh shares vs issue of 43.17 lakh
Indicative price at Rs 515.17 per share vs floor price of Rs 510 per share

Novartis

Gets bids for 33.01 lakh shares vs issue of 4.5 lakh
Indicative price at Rs 495.80 per share vs floor price of Rs 375 per share

Tata Teleservices (Maharashtra) Ltd

Gets bids for 68771 shares vs issue of 3.5 crore
Indicative price at Rs 7.65 per share vs floor price of Rs 7.6 per share

Saint-Gobain Sekurit India Ltd

Gets bids for 3.05 cr shares vs issue of 98.09 lakh
Indicative price at Rs 12.23 per share vs floor price of Rs 10 per share