 "Hydro S&S Industries dips on fixing floor price for OFS")
Shares in Hydro S&S Industries has dipped 10% to Rs 194, extending its previous day’s 6% fall on NSE, after the company said it has fixed the floor price for the offer-for-sale (OFS) issue at Rs 180 a share, through which promoter diluted almost 7.8% stake.
As against an offer for 500,000 shares, the company received bids for 481,716 shares, the exchange data shows.
The move will help the company meet minimum public shareholding norm. Prior to the issue, promoter held 82.8% stake in the company.
The stock opened at Rs 201 and has seen a combined around 5,000 shares changed hands on the counter till 1000 hours on NSE and BSE.
The move will help the company meet minimum public shareholding norm. Prior to the issue, promoter held 82.8% stake in the company.
The stock opened at Rs 201 and has seen a combined around 5,000 shares changed hands on the counter till 1000 hours on NSE and BSE.