 "Bharti Infratel dips 6% as OFS opens")
Bharti Infratel has dipped 6% to Rs 255 on the National Stock Exchange (NSE) after the offer-for-sale (OFS) for up to 45 million shares to comply with SEBI’s minimum public shareholding norm of 25% opened today.
Bharti Airtel, the promoters of Bharti Infratel will sell up to 45 million shares of the company at a floor price of Rs 250 per share in order to meet market regulator Sebi's norms on minimum public shareholding. The floor price is 8% discount to the Wednesday’s closing price of Rs 272 on NSE.
The stock opened at Rs 255 and touched a low of Rs 253 so far. A combined 188,000 shares changed hands on the counter in early morning deals on NSE and BSE.
Bharti Airtel, the promoters of Bharti Infratel will sell up to 45 million shares of the company at a floor price of Rs 250 per share in order to meet market regulator Sebi's norms on minimum public shareholding. The floor price is 8% discount to the Wednesday’s closing price of Rs 272 on NSE.
The stock opened at Rs 255 and touched a low of Rs 253 so far. A combined 188,000 shares changed hands on the counter in early morning deals on NSE and BSE.