Oberoi Realty lost 1.23% to Rs 164.80 at 10:10 IST on BSE as the floor price for the offer for sale of shares by a promoter was set at a discount of 5.3% to the stock's closing price on Wednesday, 25 September 2013.
Meanwhile, the S&P BSE Sensex was up 23.60 points or 0.12% at 19,879.84.
On BSE, 7,134 shares were traded in the counter as against average daily volume of 9,633 shares over the past two weeks.
The stock hit a high of Rs 165.55 and a low of Rs 162.75 so far during the day.
Vikas Oberoi, the promoter of Oberoi Realty, is selling 1.14 crore equity shares, representing 3.47% of the equity share capital of the company, via Offer for Sale (OFS) on the separate windows provided by the stock exchanges today, 26 September 2013. The floor price for the OFS was set at Rs 158 per share. The floor price is at a discount of 5.3% to the stock's closing price of Rs 166.85 on Wednesday, 25 September 2013.
As at 9:55 IST, the OFS got bids for 7.5 lakh shares, compared with 1.14 crore shares on offer. The OFS was subscribed 6.56% at an indicative bid price of Rs 162 per share.
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Oberoi Realty's consolidated net profit rose 1% to Rs 101.82 crore on 6.4% growth in net sales to Rs 210.33 crore in Q1 June 2013 over Q1 June 2012.
Oberoi Realty is a real estate developer headquartered in Mumbai.
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