Shares in Blue Dart Express gained 11 per cent, after earlier rising as much as 17 per cent, on hopes that plans by its main stakeholder DHL Express (Singapore) Pte Ltd to sell a 6 per cent stake will attract strong demand, raising prices.
Blue Dart said on Wednesday DHL Express (Singapore), part of DHL, will sell a 6 per cent stake in the Indian air express courier firm via an offer-for-sale to comply with the SEBI regulation that all companies must have at least 25 per cent public shareholding by next year.
DHL Express currently owns 81 per cent of Blue Dart.
Copyright @ Thomson Reuters 2012
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