Dishman Carbogen slides as OFS kicks off

Dishman Carbogen Amcis declined 2.42% to Rs 151.15 as the offer for sale (OFS) opened for non-retail investors today.

Dec 18, 2020 12:12 IST capital market

Through the OFS, the companys promoter Adimans Technologies LLP proposes to sell over 68.98 lakh shares, constituting 4.4% paid-up share capital of the company, with an option to sell an additional 4.4% stake or 68.98 lakh equity shares (oversubscription option).

Adimans Technologies LLP held 63.2% stake or 9,90,91,898 shares of Dishman Carbogen as of 30 September 2020.

The floor price for the OFS was set at Rs 145.70 per shares, at a 15.52% discount to Dishman Carbogens closing price of Rs 154.90 on Thursday, 17 December 2020.

The OFS opened on Friday (18 December 2020) for non-retail investors, while both retail as well as non-retail investors will be able to subscribe on Monday (21 December 2020). A total of 15% of the offer size has been reserved for retail investors.

As on 12:15 IST, the OFS received subscription for 19,670 shares or 0.34% against the base non-retail offer size of 58,63,688 shares.

Dishman Carbogen Amcis offers a portfolio of drug development and commercialization services to the pharmaceutical and bio-pharmaceutical industries at all stages of drug development.

On a consolidated basis, the companys net profit declined 82.1% to Rs 7.38 crore on a 2.1% fall in net sales to Rs 440.42 crore in Q2 September 2020 over Q2 September 2019.

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