Oracle Fin Services fixes floor price at Rs 2,275
IT firm Oracle Financial Services Software today announced the floor price for sale of over 44 lakh shares worth about Rs 1,009 crore to meet minimum share holding norms as mandated by market regulator Sebi.
IT firm Oracle Financial Services Software on Tuesday announced the floor-price for the sale of over 44 lakh shares worth about Rs 1,009 crore to meet minimum shareholding norms as mandated by market regulator Sebi.
The company said it has fixed a floor price of Rs 2,275 per share for the sale, which will take place tomorrow. In a BSE filing, Oracle Financial said: "With reference to the earlier announcement dated May 20, 2013 regarding Offer for Sale of shares by promoter, Oracle Global (Mauritius) Ltd, promoter of Oracle Financial Services has now informed BSE that the floor price for the sale in terms of the SEBI circulars shall be Rs 2,275."On Monday, Oracle Global (Mauritius), the promoter of Oracle Financial Services, informed BSE about an offer-for-sale of 4,430,501 shares of the firm on May 22, 2013.Also read: Subscribe to Styrolution ABS OFS, says Angel BrokingMorgan Stanley India and Deutsche Equities India have been appointed as brokers for the share sale. According to the regulatory norms, all publicly listed companies on the Indian stock exchange are required to have a minimum public shareholding of 25 per cent by June 2013.
Shares of the company today fell by 0.73 per cent to settle at Rs 2,420.15 apiece from their previous close at the BSE. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
