Eureka Forbes Promoter To Divest Up To 12% Stake For Rs 1,148.7 Crore
Lunolux has offered to sell up to 2.32 crore shares in the company at a floor price of Rs 494.75 apiece.
The promoter of Eureka Forbes Ltd. plans to divest up to 12% stake in the company for Rs 1,148.7 crore.
Lunolux Ltd. plans to offload up to 2.32 crore shares in the maker of Aquaguard water purifiers and Forbes vacuum cleaners at a floor price of Rs 494.75 apiece, according to the term sheet accessed by NDTV Profit.
The offer includes a base size of 1.93 crore shares, amounting to 10% equity, with an upsize option of 38.7 lakh shares, or 2% stake.
The floor price indicates a discount of 3% to the stock's previous close on the NSE on Wednesday.
IIFL Securities Ltd. is the sole broker to the share sale.
The promoter held 72.56% shareholding in Eureka Forbes, as of December 2023.
Last week, hedge fund investment company India Discovery Fund Ltd. trimmed its stake by 2.08% to 6.82%, the company had notified in an exchange filing.
Shares of the company closed 3.47% higher at Rs 510.05 apiece on Wednesday, as compared with a 0.59% decline in the BSE Sensex.
