Blue Dart Express has dipped 9% to Rs 1,875 after the promoter of the company fixed a floor price at a discount for its proposed offer for sale.
“DHL Express (Singapore) Pte Ltd has announced that "Floor price" for the sale shares through offer for sale by promoter shall be Rs 1,720 per equity share,” Blue Dart Express said in a filing.
The base price of Rs 1,720 per share is 16.4% discount to Thursday’s closing price of Rs 2,057 on the BSE.
DHL Express (Singapore) Pte Ltd, which holds 81.03% stake, proposes to sell an aggregate of 1.43 million equity shares of Rs 10 each of the company representing 6.03% of the equity share capital of the company to meet the SEBI rules for stake in the company.
The shares sale would take place on the separate window of both BSE and NSE on today (November 23), it added.
The stock opened at Rs 2,012 and touched high of Rs 2,091 on the NSE. A combined around 106,751 shares have changed hands on the counter in morning deals.