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BSE-listed Equipp Social Impact Technologies Ltd has launched an offer for sale (OFS) allowing its promoter group to offload 92.78 lakh shares at a floor price of ₹26.40 a piece.
The base size of the offer represents nine percent of the total paid-up equity share capital, The seller may also offload an additional 20.61 lakh shares, representing two per cent of the overall stake, the company informed the stock exchange.
If the oversubscription option is exercised, the company will end up collectively offloading 1.13 crore shares, which represent nine percent of the paid-up share capital.
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The promoter group withdrew the earlier September 1, 2023’s offer for sale due to concerns from prospective investors about the weekly trading status of the share.
At present, the promoter and promoter groups collectively hold around 97 percent in the company.
The OFS is slated to be executed over two days – on October 20 for non-retail investors; and on October 23 for retail investors.
The company’s share hit the upper circuit on Friday to close at ₹31.41, registering a spurt in volume by more than 1.48 times.
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