The offer-for-sale by Anurag Jain, promoter of Endurance Technologies
, will open for non-retail investors on March 6 and to retail investors on Thursday.
Anurag Jain plans to sell 63.63 lakh shares with an option to additionally sell 41.89 lakh shares (in case of oversubscription).
The floor price is fixed at Rs1,100. The move is aimed at reducing promoters’ stake to meet SEBI’s minimum public shareholding norm of 75%, as they currently hold 82.50% stake.
The offer shall take place during trading hours on a separate window of the Stock Exchanges on T day, commencing at 9:15 a.m. and shall close on the same date at 3:30 p.m.
“Anurag Jain ("Promoter") of Endurance Technologies Ltd (the "Company") has submitted to BSE a Notice of Offer for Sale up to 63,63,637 Equity Shares (representing 4.52% of the paid up equity share capital of the Company) ("Base Offer Size") on March 06, 2019 ("T day") (for non-Retail Investors only) and on March 07, 2019 ("T+1 day") (for Retail Investors and for non-Retail Investors who choose to carry forward their unallotted bids) with an option to additionally sell up to 41,89,051 Equity Shares (representing 2.98% of the paid up equity share capital of the Company) (the "Oversubscription Option" and in the event the Oversubscription Option is exercised, the Equity Shares forming part of the Base Offer Size and the Oversubscription Option will, collectively, hereinafter be referred to as "Offer Shares", as per BSE filing”
In case the Oversubscription Option is not exercised, the Equity Shares forming part of the Base Offer Size will hereinafter be referred to as "Offer Shares"), through a separate, designated window of the BSE Limited (the "BSE") and the National Stock Exchange of India Limited ("NSE", and together with the BSE, the "Stock Exchanges"), the filing added.
On Tuesday, share price of Endurance Technologies Ltd ended at Rs1,255.20 down by Rs19.85 or 1.56% from its previous closing of Rs1,275.05 on the BSE. The scrip opened at Rs1,275.50 and touched a high and low of Rs1,301.80 and Rs1,255.20 respectively.