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Wendt India's OFS opens today for non-retail investors; Floor price is Rs 2,200 per share

Wendt Indias OFS opens today for non-retail investors; Floor price is Rs 2,200 per share
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Wendt India's OFS opens today for non-retail investors; Floor price is Rs 2,200 per share

Highlights

Carborundum Universal Limited and Wendt GmBH, the promoters of Wendt (India) Ltd, on Wednesday said the Offer for Sale (OFS) of Wendt (India) will be held on January 7-8, 2021.

Carborundum Universal Limited and Wendt GmBH, the promoters of Wendt (India) Ltd, on Wednesday said the Offer for Sale (OFS) of Wendt (India) will be held on January 7-8, 2021.

Carborundum Universal Limited and Wendt GmBH (the "Sellers") will sell up to 94,704 equity shares of face value of Rs. 10 each - representing 4.74 per cent of the total issued and paid-up Equity Share capital - of Wendt (India) Ltd via Offer For Sale (OFS).

The sale is being undertaken by the sellers primarily for achieving the minimum public shareholding in the company.

OFS for non-retail investors to open today, January 7, 2021, ("T Day") and for Retail Investors and for non-retail investors who choose to carry forward their un-allotted bids on January 8, 2021 ("T+1 Day").

The floor price of Rs 2,200 per share is at a discount of almost 29 per cent to Wednesday's closing price. The OFS was earlier planned for December 21, 2020, but was called off due to delay in transfer of sale shares.

The stakes equity shares will be sold on the separate window provided by the stock exchanges for this purpose, through a separate, designated window of the BSE Limited (the "BSE") and the National Stock Exchange of India Limited (the "NSE" and together with BSE, the "Stock Exchanges").

Date and time of the opening and closing of the Offer:

For Non-Retail Investors: on T Day i.e. January 7, 2021.

For Retail Investors and for Non-Retail Investors who choose to carry forward their un-allotted bids: on T+1 Day i.e. January 8, 2021.

The Sale shall take place on a separate window of the Stock Exchanges on T Day i.e. January 7, 2021, commencing at 9:15 a.m. and shall close at 3:30 p.m. (Indian Standard Time) on the same date. Non-Retail Investors who have placed their bids on T Day may indicate their willingness to carry forward their un-allotted bids to T+1 Day.

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