Track2Realty: Constellation Capital Ltd and S.A. Finvest Ltd, the promoters of realty firm Omaxe Limited, have fixed the floor price for its offer-for-sale (OFS) at Rs. 148 a share.
The OFS, to take place on May 21, 2013, will see promoter companies Constellation Capital Ltd and S.A. Finvest Ltd; offload 25 lakh equity shares each of Rs 10 each, aggregating to 50,00,000 equity shares (representing around 2.88 per cent of the paid-up equity of Omaxe Ltd). It will take place at the separate window of the BSE and shall commence at 9.15 am and shall close the same day at 3.30 pm.
The OFS is being launched to meet market regulator SEBI’s norm on minimum 25 per cent public shareholding by June 30for private sector listed companies
As on March 31, promoters had 89.14 per cent stake in the company. Thus promoter companies will sell a total of 50 lakh shares, worth Rs 74 crore, on May 21, through the offer for sale route (OFS). After the sale of 50 lakh shares, promoters’ stake would come down by about three per cent to about 86 percent.
