Ingersoll-Rand India OFS open for non-retail investors today; stock dives over 4%

Citigroup Global Markets is acting as the broker on behalf of the promoter.

Nov 24, 2020 01:11 IST India Infoline News Service

Ingersoll Rand
Ingersoll-Rand India's offer for sale (OFS) has opened from today onwards, where the promoter Ingersoll-Rand Inc will offload 1,425,798 equity shares representing up to 4.52% of the total issued and paid-up equity share capital of the company.

On Tuesday, the company's OFS will be available for non-retail investors between 9:15 a.m to 3:30 p.m.

While the offer will continue till tomorrow, where retail investors can bid for equity shares. Also, non-Retail Investors who choose to carry forward their un-allotted bids are allowed to perform on November 25, 2020, as well along with retail investors.

Citigroup Global Markets is acting as the broker on behalf of the promoter.

The OFS is carried at a floor price of Rs578.60 per equity share which at a discount compared to the current market price.

At around 1.19 pm, Ingersoll-Rand India was trading at Rs628.40 per piece down 4.43% on Sensex. The stock has plunged to the day's low of Rs609.40 per piece. 

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