Sona Koyo Steering share sale begins; stock falls 9%

The stock dipped 9% to Rs 89.45 on the BSE in early morning deal as the promoters share sale through offer for sale began today.

Shares of Sona Koyo Steering Systems have dipped 9% to Rs 89.45 per share on the BSE in early morning deal as the promoters share sale through offer for sale (OFS) began today, April 6, 2018. The floor price of the OFS is Rs 85 per share.

“JTEKT Corporation, promoter of the company, proposes to sell up to 3.51 million equity shares representing 1.7% of total paid up equity capital of the company, on April 6 (for non-retail investors) and on April 9 (for retail investors and for non-retail investors who wish to carry forward their bids) through a