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TMI BlogSeventh CPSE Disinvestment of the Fiscal Year 2015-16: CONCOR (Non-Retail Basket) OFS gets Oversubscribed 2 Times; Highlight of the issue was the encouraging FIIs participation of ? 373.41 crore which works-out to be 40% of the Non-Retail BasketX X X X Extracts X X X X X X X X Extracts X X X X ..... Seventh CPSE Disinvestment of the Fiscal Year 2015-16: CONCOR (Non-Retail Basket) OFS gets Oversubscribed 2 Times; Highlight of the issue was the encouraging FIIs participation of ? 373.41 crore which works-out to be 40% of the Non-Retail Basket - News and Press Release Dated:- 10-3-2016 - News - The Seventh CPSE disinvestment of the fiscal year 2015-16 took place yesterday with the CONCOR (Non- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Retail basket) OFS getting oversubscribed by 2 times. On offer was 5% paid-up equity capital of the company comprising 97,48,710 shares, each of Face value of ₹10. Out of the shares on offer for sale, 20% are reserved for retail investors. At the end of the day with total subscription of ₹ 1887.12 crore, the issue stood oversubscribed by two times. The indicative price was & ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #8377; 1196.20 which is above the floor price. The previous day (08/03/2016) closing price was ₹ 1226.65 (BSE)/ ₹ 1226.5 (NSE) and floor price was fixed at ₹ 1195. The highlight of the issue was the encouraging FIIs participation of ₹ 373.41 crore which works-out to be 40% of the non-retail basket. With this disinvestment, the Government of India s share in CONCOR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... will come down to 56.80%. As per the new SEBI guidelines, only non-retail investors were allowed to place their bids today (T Day) for 80% of non-retail portion. On offer was 77,98,968 equity shares which amount to ₹ 932 crore at floor price. The retail investors shall bid tomorrow (T+1) for 20% of the portion reserved for them, i.e. 19,49742 equity shares of the Company amounting to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 233 crore at Floor price. They will have the option to place a price bid or opt for bidding at cut-off price. The new arrangement provides retail investors the benefit of discovering the cut-off price of T day and place their bids on T+1 day on a more informed basis than was the case earlier. As usual retail investors i.e. those investors who place bids for shares of total value of not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... more than ₹2.00 lakh, will in addition be entitled to a 5% discount. The discount to retail investors shall be applicable to bids received tomorrow (T+1). Unsubscribed portion of the shares reserved for retail investors shall be allocated to non retail bidders on T+1 day at a price equal to cut off price or higher as per bids. In this regard, option shall be provided to such non retail bi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dders to indicate their willingness to carry forward their bids to T+1 day. Effectively the bidding for the OFS will remain open for two days. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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