Eureka Forbes Promoter To Offload Up To 12% Stake For ₹1,148.7 Crore

22 Feb 2024 , 10:40 AM

For ₹1,148.7 crore, the promoter of Eureka Forbes Ltd. intends to sell up to 12% of the business.

According to the term sheet viewed by NDTV Profit, Lunolux Ltd. intends to sell up to 2.32 Crore shares in the company that produces Forbes vacuum cleaners and Aquaguard water purifiers at a floor price of ₹494.75 each.

The offer comprises an upsize option of 38.7 lakh shares, or 2% stake, in addition to a base size of 1.93 Crore shares, or 10% equity.

The sole broker for the share offering is IIFL Capital Services Ltd.

As of December 2023, the promoter owned 72.56% of the shares in Eureka Forbes.

India Discovery Fund Ltd., a hedge fund investment company, reduced its shareholding by 2.08% to 6.82% last week, as the company said in an exchange filing. 

While the BSE Sensex fell 0.59% on Wednesday, the company’s shares closed 3.47% higher at ₹510.05 apiece.

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