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Shares of Dredging Corporation of India are trading lower by nearly 4% after the government declared that it will sell 5% of its stake in the country's largest dredging company via Offer for Sale (OFS).
The government will sell up to 14 lakh shares of face value of Rs 10 each, representing 5% of the total paid up equity share capital of the company which will fetch the government up to Rs 57 crore.
The offer shall take place during trading hours on a separate window of the Stock Exchanges and shall commence on August 21, 2015 at 9:15 am and shall close on the same date at 3:30 pm according to the BSE filing.
The stock opened at Rs 399 and touched a low of Rs 391 on the BSE. A total of 26,683 shares changed hands on the BSE so far.
