Shares of Bartronics India are in focus on January 14 as its promoter Kinex India is set to sell 1.92 crore shares of the company through an offer-for-sale (OFS) which opens today for non-retail investors. The proposed shares that are set to be sold represent 6.29% of the total equity of the company.
Bartronics India shares jumped 2.5% in early trade on January 14 to hit an intraday high of Rs 22.96, as seen at 9.30 am. The shares are currently around 47% higher than their 52-week-low record of Rs 15.65. However, the stock is still around 20% lower than its 52-week-high record of Rs 28.67.
The OFS will open on January 14 for non-retail investors and on January 15 for retail investors. The floor price has been set at Rs 22 per share.
As per the shareholding pattern mentioned on BSE, Kinex held 26.06 crore shares of Bartronics India at the end of the July-September quarter of FY25.
This is not the first time Kinex has sold part of its stake in Bartronics. Earlier in July, Kinex sold 4.43% stake in the company through an OFS, which received full subscription.
Earlier on January 13, Bartronics shares had briefly jumped 5% to hit the upper circuit at Rs 22.65. The stock however pared some gains to close at Rs 22.40. However, it was after markets closed when the company announced the opening of the OFS on January 13.
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Bartronics India, which was founded in 1990, provides IT services based on biometrics, bar codes and more.
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